Sino-Global Shipping America, L (NASDAQ:SINO)

ROSLYN, N.Y., April 8, 2020 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company" or "we"), a non-asset based global shipping and freight logistic integrated solution provider, today announced the signing of a Share Purchase Agreement (the "Agreement") with Mr. Kelin Wu, the 88.5% shareholder of Mandarine Ocean Ltd, ("Mandarine Ocean" or "MO"), a Shanghai, China-based shipping company registered in the Marshall Islands. 

Under the Agreement, Sino-Global will acquire a 75% majority position in Mandarine Ocean for up to $3.75 million, with a combination of cash and stock dependent on MO's financial performance, particularly its pre-tax net profit (annual pre-tax net profit over the next two-years). Over the past three years, MO has an average annual revenue of approximately US$38 million. With the integration of MO's business, there will be a significant increase in SINO's revenue beginning in the current fiscal 2020 fourth quarter and into fiscal 2021. The details of the transaction in detail will be available in the Company's filing with the Security and Exchange Commission on Form 8-K.

Mandarine Ocean was founded in 2013 and is a shipping company providing worldwide ocean freight service. Mandarine Ocean currently has long-term contracts to operate 14 bulk carriers (with six of those vessels being owned by Mr. Wu), with the majority being Handysize and Handymax size with DWT range from 20,000mt to 50,000mt.

Business Combination Rationale - Management Commentary

MO's current downstream business operates in the middle portion of the ocean logistic supply chain, which includes shipping agency services, ship management and crew management. These services are all outsourced to other suppliers, each of these are within Sino-Global's business scope. With the completion of acquisition, MO can utilize its relationship with (and ownership by) Sino-Global to consolidate these services at a lower overall cost and provides enhanced profit potential. Ultimately, the Company believes it will increase incremental shipping agency revenues by approximately $7 million based on historical volumes.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "This is a milestone agreement for our Company, which allows our business to expand when we have begun to see an increased level of economic activity now that challenges and delays created by the Coronavirus have begun to wane in China. Trucking operations have resumed in China, which is leading to increased export cargo arriving at ports and ships are needed to handle the backlog of containers. We see this as an opportunity for Sino-Global and Mandarine Ocean to create a 'win-win' scenario where we can utilize our relationships and expertise to grow their operations at an accelerated rate."

ROSLYN, N.Y., Jan. 21, 2020 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company" or "we"), a non-asset based global shipping and freight logistic integrated solution provider, today announced the signing of Joint Venture Agreement (the "Agreement") with Mr. Shanming Liang ("Mr. Liang").

Mr. Liang.is an expert importer of agriculture products for the customers located in Southern China, and Sino-Global expects to work with Mr. Liang to resume the project of "Bulk Cargo Containerized" since the China and  US trade deal was finally signed January 15, 2020. Pursuance to the Agreement, a new joint venture company is registered and will take full responsibility for purchasing agriculture products in North America. Sino-Global will provide the whole supply chain logistic services for products of Soybean, Corn, Alfalfa etc. that ship from North America to China.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "During the passing year, the international trade and trade-related shipment has decreased a lot due to the trade war between China and the US. In such an environment, Sino-Global's business was inevitably affected. As the trade deal  "Phase One" was duly signed by both governments last Wednesday, the trade between China and the US will be heating up soon. We believe that with the resuming of our containerized project, we can bring continuous and stable revenue to the company in the coming future."

First Quarter 2020 Financial Results

• The Company reported total revenues of approximately $1.8 million for the quarter ended September 30, 2019, compared to approximately $6.5 million reported in the same period last year. 
  
• The Company had an operating loss of approximately $1.8 million for the three months ended September 30, 2019, compared to an operating loss of approximately $1.4 million for the same period in 2018.

Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented, "During the first quarter, our strategy continued to be negatively impacted by the ongoing difficult U.S./China trade relations. We were very pleased to have significantly improved gross margins despite a difficult sales environment, partly due to our shifting focus towards our shipping agency business. By utilizing our agency network and previous investments in technology, we have retained the ability to service a broader base of customers. Despite our ongoing efforts to rationalize costs and expenses, we remain cautious amidst a macro-economic stalemate with an indeterminant time frame. As the Company moves forward into fiscal 2020, we will be focusing on leveraging our growing infrastructure to improve operating margins and the bottom line while simultaneously seeking immediate international opportunities. We expect to provide a shareholder letter to outline our growth strategy for the coming year prior to our next annual meeting."

ROSLYN, N.Y., Sept. 30, 2019 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (SINO) ("Sino-Global", the "Company", "we", "our", or "us"), a non-asset based global logistics service provider, announced its financial and operating results for the fiscal year ended June 30, 2019.

The Company has also provided more detailed information on its annual report on Form 10-K filed this morning with the U.S. Securities and Exchange Commission. Management encourages investors to review this filing for more details of the Company's financial results for the fiscal year 2019, background on Sino-Global's business and history, as well as the Company's strategies for the coming fiscal year.

Management Comments – Strategy Moving into Fiscal 2020

Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented, "We continue to pay greater attention to expanding our ship services following a challenging year due to the intense U.S./China trade relations. Throughout the year, current trade dynamics increased the expense for shipping carrier clients to ship cargo into U.S. ports, resulting in lower shipping volumes and lower utilization of our online platform, which has caused us to shift our focus back to the global shipping agency business. The shipping agency industry in the world has improved in the past years and the number of shipping agencies overall has decreased due to the failure to provide a competitive price and to embrace technology as a resource in serving client needs. We already have a network that covers the U.S. east coast, west coast, Canada, Australia, Hong Kong, Beijing, and Ningbo, and we intend to utilize our previous investments in technology to provide a broader base of services to our customers. We maintain strong relationships with customers and market resources. The current shipping agency market is more competitive yet enable companies like us who have better resources in this market niche to expand."

Mr. Cao concluded, "While we were pleased with higher sales this year, we understand that the Company needs to collect revenues from larger shipping agencies to take advantage of our cash generating potential. In addition, in fiscal year 2020, we expect to provide shipping management service, which includes ship insurance arrangements and operations; ship maintenance and inspection; crew recruitment, training and supply and ship technical services. We will focus on expanding our business to increase sales revenue in the United States and get more customers who can settle in U.S. dollars. Overall, we believe that the Company has properly positioned itself to take advantage of another revenue growth opportunity. As we move forward into fiscal 2020, we will be focusing on leveraging our growing infrastructure to improve operating margins and the bottom line. We expect to provide a shareholder letter to outline our growth strategy for the coming year prior to our next annual meeting."

Fiscal Year 2019 Financial Review

• Total revenues increased by approximately 81.1% to approximately $41.8 million during the year, compared to approximately $23.1 million in the prior fiscal year. This increase was due to the Company's continuing efforts to diversify its business perspectives, resulting in the rise in revenues generated from its freight logistics services segment. Freight logistics services consist primarily of cargo forwarding, brokerage and other freight services in China.
• In the second quarter of 2019, the Company decided to transition back into the shipping agency business, because it now has an integrated online logistics platform that allows it to handle a wider base of customers in China and other ports of the world. For the years ended June 30, 2019 and 2018, shipping agency services generated revenues of $2,093,680 and $0, respectively, and gross profit of $199,348 and $0, respectively, representing a 100.0% increase in both revenues and gross profit.
• The increase of revenue in the shipping agency services segment was due to the increase in the total number of ships the Company served. For the year ended June 30, 2019, the Company served 57 ships.
• The Company's gross profit for the 2019 fiscal year was approximately $5.8 million, compared to approximately $7.5 million in the prior fiscal year. Gross profit margin during the year decreased to approximately 13.8% from approximately 32.4%, which was largely attributed to a greater portion of revenues coming from providing freight logistics services and shipping agency business with relative low gross profit margins. Gross profit margin decreased as a result of significiantly increased cost of revenues, mainly from the freight logistics services segment due to an increase in freight cost of carriers resulting from the increase in shipping volume.
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ROSLYN, N.Y., June 19, 2019 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (SINO) ("Sino-Global", the "Company" or "us"), a non-asset based global shipping and freight logistics integrated solution provider, today announced an update to its strategy regarding the expansion of its shipping agency business through the expansion of a physical network development throughout China. This will be a key part of the Company's developmental strategy over the next five years.

As the only China-based international shipping company listed on a major U.S. Exchange, Sino-Global has closely monitored the changes and development of its industry since its listing on Nasdaq in 2008. Due to margin pressures and overcapacity, Sino-Global found that China's international shipping agency industry has dropped from its peak in 2008.  However, the industry has now reached an inflection point where the establishment of an industry network is the only means for independent agencies to attain sufficient scale.

Sino-Global has been engaged in the shipping agency business for many years, with a strong business relationship network along with leadership and visibility in all Chinese ports. These advantages provide Sino-Global with the ability and foundation to establish a nationwide entity network that would integrate all facets of the logistics industry in the country.

Currently, customers of the shipping agency industry are international ship operators, and revenues generated by the shipping agency industry are settled in U.S. dollars. Considering these industry characteristics, given Sino-Global is a NASDAQ listed company with offices in the United States, it has the natural advantage of integrating the industry and establishing the first true nationwide shipping agency network in China.

Sino-Global plans to establish a nationwide shipping agency entity network in China over the next five years and gradually expand it internationally. This soon-to-be-established shipping agency network will establish Sino-Global's U.S. headquarters as the global marketing settlement centers, with the newly-joined international shipping agency companies as the operational fulcrum.

The controlling owners of newly-joined agencies will join this network and work together with Sino-Global to build a shipping agency network, in order to seek common development and achieve a win-win goal.

Third Quarter 2018 Financial Results  

• Total revenues increased by 337.9% to approximately $22.8 million for the three month period ended March 31, 2019, compared to approximately $5.2 million in the three month period ended March 31, 2018. 
• For the three months ended March 31, 2019, the Company reported a net loss attributable to the Company of approximately $1.4 million, or $(0.09) per diluted share based on weighted average diluted shares outstanding of 15,295,703, compared to a net income attributable to the Company of approximately $0.1 million, or $0.01 per diluted share based on weighted average diluted shares outstanding of 10,870,221, for the same period in the prior year.

Second Quarter 2019 Financial Results

• Total revenues increased by 101.4% to approximately $10.5 million for the three month period ended December 31, 2018, compared to approximately $5.2 million in the period ended December 31, 2017. This increase was due to the Company's business development efforts in freight logistics. In addition, as the Company decided to transit back to the shipping agency business, we had generated approximately $0.9 million of revenue from providing shipping agency services in the second quarter of fiscal year 2019.
• For the three months ended December 31, 2018, the Company reported a net loss attributable to the Company of approximately $1.5 million, or $(0.11) per diluted.

Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented, "We delivered multiple shipments totaling approximately $0.89 million in revenue for the Company for November and December 2018 as part of our expanded shipping agency business and our freight logistics business generated revenue of approximately $8.98 million during the second quarter of 2019. The second quarter reflected the full impact of our costs associated with the transition to a shipping agency and logistics focus without the corresponding revenue, which we believe will be expressed in the second half of Fiscal 2019. The Company has signed multiple contracts over the past year with large import / export agencies throughout China and anticipates an increase in revenues in this business segment."

Mr. Cao continued, "Our plan is to develop a shipping agency network in China and South East Asia for the next three years and to expand our shipping agency network worldwide. We plan to build the network through acquisitions or strategic partnership with other shipping agencies. Our shipping agency business will be mostly conducted through our subsidiaries in China, Hong Kong and Australia, where we have over 20 years of experience. Our initial strategy was to expand our partnerships gradually during 2018 with agencies that have a strong track-record throughout 2018 and then to increase sales and cash generation throughout 2019. We began seeing a considerable shift in sales in the fiscal 2019 second quarter and expect this to continue throughout the remainder of 2019."

ROSLYN, N.Y., Jan. 7, 2019 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (SINO) ("Sino-Global", the "Company" or "us"), a non-asset based global shipping and freight logistics integrated solution provider, announced today that its Chief Executive Officer, Mr. Lei Cao, released a Letter to Shareholders highlighting current activities and outlining its corporate strategy for 2019.  The letter is included in its entirety below:

To Our Valued Shareholders:

Over the course of fiscal year 2018, we continued to see progress in building a larger customer base, due to the marriage of Sino-Global's global shipping and transportation relationships and a growing online logistics network. Our business has historically been built around leveraging relationships with large shippers in Asia and helping to serve these clients through a variety of means, including arranging ship's berthing and sailing, arranging cargo loading and unloading, preparing clearance documents, among providing other services.

Over the past three years, through signing a strategic cooperation agreement with COSCO Beijing, we were able to take advantage of the low container rate to jointly promote bulk cargo container transportation. COSCO adopted a new way to containerize goods that used to be shipped in bulk ("bulk-to-container"). For the year ended June 30, 2018, we shipped 140 containers totaling 18 tons per container of sulfur from Long Beach, CA in the U.S. to our customers in China.

We are very proud of our accomplishments, as we developed our business model to help connect China and the U.S. in a cost-effective manner. Our investment in expanding our online platform and the relationships we built here in the U.S. will prove to be valuable assets in the coming years. As we enter fiscal year 2019, we expect to pivot our business once again.

FY 2019 Strategy -- An Expansion of Our Shipping Agency Business / Partnerships

The Background of Our Agency Business

To fully explain where Sino-Global is going, I feel it is important for our investors and potential shareholders to understand the origins of our company. I originally founded the Company in 2001 to build a local shipping agency business to serve local ports throughout China. At the time of our initial public offering ("IPO") in 2008, we had grown this business considerably to serving over 75 ports throughout the country. We had strong customer relationships and decided that the best way to continue growing the business would be to utilize investors' capital to both grow our agency business and to expand to ports outside of China. This would allow our company to develop additional relationships and diversify its revenue stream. This was the origin of "Sino-Global."

We had a strong set of relationships in building our agency business, and in the years that followed our IPO, we were able to develop new methods of simplifying the logistics process for our clients. We used technology to more efficiently analyze information about prospective shipments provided by our clients and to determine the most economical and efficient transportation solutions. We then leveraged our relationships and scale as a shipping agency to negotiate competitive shipping rates.

The larger Chinese market served as an excellent market for Sino-Global to expand into. It was large (having an estimated value in 2006 of over $1.5 billion), highly fragmented, and we had considerable expertise in serving a long-term customer base. Our IPO allowed our company to both grow within China and to build relationships globally.

However, in 2013 we began to see challenges throughout the market. There were two larger China State-Owned agencies that we knew very well operating in the market, along with over 1,000 individual agencies that we were less familiar with. The number of smaller agencies began to rise considerably, as they were appearing on the market and attempting to win market share with non-sustainable pricing. Instead of competing in such a market, we decided to change our strategy. We developed a three-year strategic plan to transform the Company and expand our focus to the global market, instead of focusing solely on the Chinese market.

Initially, we were very successful in building a U.S.-based revenue model.  However, in mid-2018 we began to explore the possibility of shifting the focus of our shipping agency business once again due to two primary factors:

After an examination of global trade policy, we found it to be very challenging to build and expand a relationship/ technology logistics business focused on China/U.S. relations. Current trade dynamics made it more expensive for our shipping carrier clients to cost-effectively move cargo into U.S. ports, and as a result, we saw considerably lower shipping volumes. This included less utilization of our online platform and ultimately led to declining revenues in the latter half of fiscal year 2018.
The shipping agency industry in China has improved dramatically. The number of shipping agencies overall in the country has decreased, due to both price and the inability of competitors to embrace technology as a resource in serving clients' needs. We began to see this shift in 2017 and continued to monitor its progress on a quarterly basis while operating our U.S. / China business. We found that agencies are now able to compete based on service and quality, as opposed to just price.
Growth Strategy - Shifting Back into the Agency Business, Now Globally

We determined in mid-2018 to transition back into the shipping agency business. We are still able to provide the same services as before, but now we also have an integrated online logistics platform that allows our company to handle a wider base of customers in both China and other ports throughout the globe.

As we moved back into the market, we saw a very favorable response from our customer base and expect revenues to increase considerably throughout the course of fiscal year 2019. Our competitive advantages include:

Having 20-years of experience in the shipping business;
Maintaining stable long-term relationships with customers that have tried "lower price" agency businesses, and thus value our unique expertise and ease of their transactions and logistics service when working with us;
Being the only China-based shipping agency listed on the NASDAQ in the United States;
Being a standing council member of the CASA (China Association of Shipping Agency & Non-Vessel-Operating Common Carriers); and
Having an online network that has been tested globally.
We believe that we can provide a full range of high quality services to our clients through our global network of shipping agency entities. We plan to establish our agency network in China, Southeast Asia, and Australia over in the next three years. We have selected major ports throughout China that we intend to target first and expect to sign new partnership agreements with shippers in the coming weeks/months.

Third Quarter 2018 Financial Results

• Total revenue decreased USD 9.6M, or 20%, to USD 38.8M for the quarter ended September 30, 2018 when compared on a year over year basis ("YoY"). When compared to Q2 2018 ("QoQ"), revenue increased USD 4.8M, or 14%,
• Fully diluted earnings per share were USD .09 in the third quarter, compared to USD .14 in Q3 2017 (YoY) and versus USD .02 in Q2 2018 (QoQ).

CEO Commentary

Solomon Lee, Chief Executive Officer of Sino Agro Food, commented, "This was a positive quarter for the Company as we saw a continuation of the trends reported in Q2 2018 in the form of a sequential increase in revenues and stable gross margins. This is the direct result of our restructuring strategy implemented in 2017 that involved divesting some businesses that had become unprofitable, streamlining others, and implementing strict cost controls across several areas of the business. The current operations are leaner and more efficient which, as seen this quarter, is positively impacting our bottom line, with net income increasing 285% to USD 3.47M, compared with the second quarter of 2018. These positive trends are expected to continue as we leverage this platform to continue to steadily grow the business.

"We are pleased to see increased activity at Tri-way, our investment associate, which generated slighter higher income to SIAF on both a year over year and sequential basis. Tri-way's activities also generated revenues to Capital Award, our provider of engineering technology, consulting and services, as we supported its development projects, including the construction and retrofit work on its indoor A Power Module farms and about 20 acres of open dam recirculating system farms.

"As previously discussed, we have downsized our Integrated Cattle farm (SJAP as we adapt to increased market competition, especially from foreign imports. This strategy is working and we are pleased to report an operational profit for the third quarter, in line with our expectations. We partially compensated for the fall in cattle sales by ramping up fertilizer sales. We will continue to monitor this business and seek ways in which we can adapt and grow with changing market dynamics. One longer-term strategy is to establish a trading center for the cattle and beef industry.

"We are particularly pleased with our progress at HSA selling organic fertilizer, which benefited from two fully operational production plants. We also successfully leased out its cattle buildings and related facilities to a third party to provide additional income and maintain control over costs. Likewise, we reported strength from Cattle Farms (MEIJI). As in prior quarters, we saw strength from our seafood and meat trading business, which is well positioned to leverage trends in the market as a result of our transition toward higher quality, and higher margin, products. This remains a core part of our business and we will continue to focus on expanding sales.

"To conclude, although sales are not as high as they were a year ago, we are pleased with the trend toward improved profitability and more sustainable margins. These results validate our strategies to "right size" businesses in the near term while reducing legacy debt until expansion or new initiatives are funded. In the meantime, we are encouraged that positive operational trends will continue to drive improved financials, and grow the value of SIAF, which we believe is deeply undervalued. We are confident in our long term prospects and, therefore, plan to issue a dividend before year-end."

First Quarter 2019 Financial Results

• Total revenues increased by 20.8% to approximately $6.5 million for the three month period ended September 30, 2018, compared to approximately $5.4 million in the period ended September 30, 2017. This increase was due to the Company's business development efforts in freight logistics.
• For the three months ended September 30, 2018, the Company reported a net loss of approximately $1.3 million, or $(0.10) per diluted share based on weighted average diluted shares outstanding of 13,145,535, compared to a net income of approximately $0.6 million, or $0.07 per diluted share based on weighted average diluted shares outstanding of 10,157,625, for the same period in prior year. 

Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented, "We were pleased to maintain solid revenue growth while concentrating on the expansion of our shipping agency business. Over the past years, we have examined global trading environments, and feel that this adjustment in our business provides the most upside potential considering the impact of trade policy changes. Our unique relationships and capabilities provide Sino-Global with a distinctive competitive advantage given the fragmented nature of the industry. We are one of the few shipping agents specialized in providing a full range of general shipping agency services in China and the only shipping agency company listed on a major stock exchange in the U.S. We have an excellent online logistics platform that we have developed and feel that we can align this use of technology with expertise and relationships with larger global shippers. Our plan is to develop a shipping agency network in China and South East Asia for the next three years and to expand our shipping agency network worldwide through acquisitions or strategic partnerships with other shipping agencies. In the first quarter, we continued to pursue new partnership arrangements and will continue to update investors as we progress."

Fourth Quarter 2018 Financial Results

• Total revenues increased by 57.1% to approximately $7.3 million for the three month period ending June 30, 2018, which compared to $4.6 million in the year ending June 30, 2017. This increase was due to the Company's business development efforts in freight logistics, container trucking and inland transportation management segments.
• For the three months ended June 30, 2018, the Company reported a net loss of $0.8 million, or $(0.06) per diluted share based on weighted average shares outstanding of 12,864,913, compared to a net income of $0.8 million, or $0.07 per diluted share based on weighted average shares outstanding of 10,152,685, for the same period in prior year. The decrease was largely due to a $1.1 million income tax expense during the period compared to a $0.3 million income tax benefit in the prior year period.

Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented, "We made tremendous progress this year in our freight logistics, bulk cargo container and container trucking services while spending much of this year investing in our business. These highlights include:

Reinvesting in our Business: Since our change in business focus to a asset-light online logistics platform we have made great strides towards integrating our business relationships in China with opportunities in the United States, with revenues increasing substantially since this change in model. Going forward, we know that in order to maintain an advantage we needed to expand our technical capabilities. We invested in an upgraded IT facility in Shanghai that will help facilitate a larger base of revenues.
Broadening our Global Base of Customers and Shipments: In fiscal 2018, we coordinated the shipment of a vast array of materials from China to ports in Australia and the United States by utilizing our long-term relationships to connect shippers to our online platform. This included an increase in sales to major customers shipping minerals and coals between Australia and China.
New Joint Venture Agreement: In September 2018, we entered into a co-operation agreement with Ningbo Far-East Universal Shipping Agency Co., Ltd ("Ningbo Far-East") to set up a joint venture in Hong Kong to engage in worldwide shipping agency and management business. The Company shall have 51% ownership in the joint venture. Ningbo Far-East is one of the top ranking shipping agencies for private enterprises in the Ningbo and Zhoushan ports. We are very pleased with the potential of this joint venture, as it provides further diversification in our customer base without any significant overlap. We are one of the few shipping agents specialized in providing a full range of general shipping agency services in China and the only shipping agency company listed on a major stock exchange in the U.S. compared to the other, much smaller, shipping agencies in China. The setup of Sino Ningbo allows us to use our resources such as our customer base, our IT infrastructure currently under development and our business insight to build a global network of shipping agencies.
Development of Online Platform: In fiscal 2018, we continued to further the development of our online platform, which helps to bridge the gap between global shippers from China and other countries such as Australia and the United States. With the signing of a strategic cooperation agreement with COSCO Beijing, we are able to take advantage of the low container rate to jointly promote bulk cargo container transportation.
Seeking "Reverse" Logistics Opportunities from the U.S. to China: We also are continuing to take advantage of export opportunities, as we shipped 140 containers totaling 18 tons per container of sulfur from Long Beach, CA in the U.S. to our customers in China. With these shipments we coordinated with the customers to sign the purchase contract with sulfur suppliers in the United States; organized the container shipping, obtained customs clearance, and arranged for the product to be shipped to the customer's designated port.
Overall, we feel that the Company has properly positioned itself to take advantage of a growing revenue opportunity. As we move forward into fiscal 2019, we are focused on leveraging our growing infrastructure to improve operating margins and the bottom line. We expect to provide an updated shareholder letter at the end of November to outline our growth strategy in calendar 2019."

GUANGZHOU, China, Aug. 14, 2018 /PRNewswire/ -- Sino Agro Food, Inc. (SIAF) (OSE:SIAF-ME), a specialized investment company focused on protein food including seafood and cattle announces results for the quarter ending June 30, 2018.

Financials

Revenue from the sale of goods decreased USD 14.8M, or 31%, to USD 32.9M for the quarter ended June 30, 2018 when compared on a year over year basis ("YoY"). When compared to Q1 2018 ("QoQ"), revenue from the sale of goods during Q2 2018 increased USD 1.5M or 5%. Revenue from project development was USD 1.1M, compared to no revenue during Q2 2017.

First quarter gross profits totaled USD 5.4M for Q2 compared to USD 6.5M during Q2 2017 and USD 6.1M during Q1 2018.

Fully diluted earnings per share were USD .02 in the second quarter, the same as Q2 2017 (YoY) and versus USD .17 QoQ.

Overview

As stated last quarter, results reflect a reprioritization of businesses according to bottom line performance and guided by stricter cost control and capital expense rationale for each. From a revenue and gross profit perspective, results were in line with Q1.

Continuing in the first half of 2018:

Businesses with negative gross margins had been either discontinued or markedly curtailed.
Capital expenditure for all businesses was reduced, most notably at SIAF's equity investee Tri-way, which restricts project development to a percentage of cash flow and as justified by individual projects, until outside cash resources become available to continue development of aquafarms 4 and 5.
G&A expenses were trimmed USD 1.7M, or 29% from USD 5.8M in Q2 2017 to USD 4.1M in Q2 2018.
These efforts have resulted in each standalone business stabilizing or improving. Integrated Cattle (SJAP) is self-sustaining, showing a small net operating profit in Q2. Seafood and Meat Trading has had consistent revenue with consistent gross margins over many quarters. The Organic Fertilizer (HSA) and the Plantation (JHST) segments are both exhibiting a growth trend expected to accelerate as past capital investments are beginning to generate returns and/or strategic partnerships are adding revenue without new capital investment.

As in the first quarter, because the benefits of business reprioritization had not yet overcome obligations incurred before the reprioritization, shares were issued to cover some current and non-current other payables that typically would have been covered through normal cash-flow levels in the past.

The Company has adopted austerity measures to reduce its dependence on equity funding by approaching it as the exception. The Company expects the benefits of its reprioritization to materialize progressively in the coming quarters and continue to drive improved results.

Other Key Points

SIAF's income from its full 36.6% equity investment in Tri-way ("TW") increased from USD 1.3M in Q2 2017 to USD 1.6M in Q2 2018.
Capital expenditure is being restricted to shorter-term, positive profile returns for Tri-Way's aquafarms. In part, Tri-way's positive cash flow is being used to fund projects to stimulate growing production.
As of June 30 2018, the Company had net working capital of USD 170.6M, a decrease of USD 2.3M YoY.
Stockholders' equity increased YoY by USD 13.6M to USD 625.9M.
The Company reiterates its dividend policy announced last quarter; that is:
 - For 2018: USD 0.05/share to be declared and payable during Q4 2018, ex-dividend and payment dates to be determined and publicized as soon as arrangements are finalized

 - For 2019: $0.05/share will be declared and paid semiannually, ex-dividend and payment dates to be determined, for a total cash dividend distribution of $0.10 / share for the year. In addition, five percent (5%) of the amount exceeding the Company's annual net income of $20 million in FY2019 to be declared and paid as an additional cash dividend during the subsequent fiscal year (i.e. sometime during FY 2020)

ROSLYN, N.Y., May 31, 2018 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (SINO) ("Sino-Global", the "Company" or "we"), a non-asset based global shipping and freight logistics integrated solution provider, today announces the signing of a strategic agreement with Sichuan Changjiang Group Corp., LTD. ("Sichuan Changjiang"), a leading China state-owned importer/exporter.

Pursuant to the strategic agreement, Sino-Global will serve as the general purchasing agent of sulfur and wood products in the U.S. as well as the exclusive logistics service provider for Sichuan Changjiang. Under the agreement, Sino-Global will be responsible for arranging key personal as well as contacting suppliers located in the United States. The strategic agreement provides an opportunity to improve operational efficiency and reduce overall costs for Sichuan Changjiang by utilizing Sino-Global's logistics services with both parties potentially benefiting from an increase in market share and the further development of their businesses.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "Entering into this agreement with such an established partner as Sichuan Changjiang is an important achievement for the Company and will bring further awareness to Sino-Global as a global logistics service provider. We look forward to a long working relationship with Sichuan Changjiang and are confident that this partnership will add value and strengthen profit margins for both businesses."

Third Quarter 2018 Financial Results

• Total revenues of this quarter increased 89.3% or $2.5 million to $5.2 million, compared to $2.7 million.
• Earnings Per Share Basic and Diluted was $0.01 remaining the same as last years same quarter.

Management Commentary

Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented, "We continue to ramp up and expand our business with our focus on our inland transportation, freight logistics and container trucking services. We were pleased with our growth for the quarter. However, there were several factors that adversely affected our bottom line. These factors included a change in our product mix towards freight logistics services which generates higher revenues but has lower profit margins than our other services. We also recognized an income tax expense for the quarter of $0.26 million due to changes in deferred tax assets for the three-month period."

Mr. Cao continued. "Also during the quarter, we completed a capital raise that resulted in net proceeds of $2.6 million, after related costs. We intend to use the money raised towards the further development of our business. In the remaining period of fiscal year 2018, we will continue to focus on increasing revenue and cash flow in the U.S. We will continue to use our bulk cargo container business in partnership with COSCO to seek solutions for empty containers between container shipping lines from the U.S. to China and view this aspect of our operations as a major part of our growth."

In addition to the growth of Sino-Global's bulk cargo container business segment, management continues to focus on growth of the Company's container truck business in the United States and anticipates further positive developments of this segment of the Company's operations in the coming months.

GUANGZHOU, China, April 17, 2018 /PRNewswire/ -- Sino Agro Food, Inc. (SIAF) (OSE:SIAF-ME), a specialized investment company focused on protein food including seafood and cattle announces results for the year ending December 31, 2017.

Revenue

Results reflect the carve-out of aquaculture operations announced March 2, 2017. Income from Sino Agro's interest in the carved-out company, Tri-Way Industries Ltd. is reported as "Income from unconsolidated equity investee." Revenue from the sale of goods from the former aquaculture business segment is no longer reported.

Revenue from the sale of goods decreased year over year ("YoY") by USD 89.6M, or 33%, to USD 181.2M for the year ended December 31, 2017 year over year ("YoY").

Revenue from consulting and project development decreased by USD 55.2M, or 76%, to USD 17.0M YoY. Prior to the acquisition of aquaculture farms by JFD/Tri-Way, construction and development costs were financed mainly by their respective owners and investors, and partially through the deferred accounts payable to Sino Agro's wholly owned subsidiary, Capital Award.

Beginning with the transfer of assets to JFD/Tri-Way, further infrastructure expansion and development became the sole responsibility of JFD/Tri-Way, and has been limited to available cash flow generated by internal operations. This accounts for the decrease in revenues from the aquaculture operations and Capital Award. Capital Award is the turnkey provider of consulting and project development services for JFD/Tri-Way, who is pursuing several avenues to fund development, including conventional financing of approximately USD 100M.

Overview 

Adverse conditions impacting performance in the second quarter and third quarters continued in fourth quarter, resulting in a decline in gross profits on a YoY basis for FY 2017 from USD 83.9M to USD 19.6M. 

Chief among these factors were continued pricing pressure in the beef and cattle businesses, and delays in the expected time to procure financing which could, among other things, rejuvenate business at Capital Award. It should be noted that based on recent discussions with lenders, Tri-Way remains confident in the approval of its applications for financing, but cannot pinpoint an exact time.

During the fourth quarter the Company took several actions to reprioritize its various business operations, focusing on its most prospective areas, while also addressing balance sheet items to support its carve-out and spinoff strategy:

 While Tri-Way pursues debt financing and to a lesser extent, SIAF also at the subsidiary level, at the corporate level, SIAF has taken steps to reduce obligations. Certain obligations provide security in the form of share equity which is to be returned to SIAF upon repayment, or are in the form of convertible notes.
 Trade facilities that provide working capital for the distribution business have been reduced from a total of USD 20M to USD 15M.
 Two additional loans have been paid down by USD 5.7M from USD 10.4M to 4.7M.
 A promissory note to Euro Capital China AB has been renegotiated.
 SJAP disposed of its QZH slaughtering and deboning operation, retaining a right, with certain provisions, to reinstate it, if favourable market and regulatory conditions return.
 SJAP also renegotiated agreements with cooperative farmers to eliminate further losses until market conditions improve and the cattle fattening operation returns to profitability.
All of these bullet points are explained in detail in the Company's recent 10-K filing under the heading of "Subsequent Events."

The Company has adapted to these segment specific conditions by restricting its capital expenditures, reducing general and administrative expenses, and tailoring product mix to products with reasonable, albeit lowered, gross margins. 

Other Key Points 

   As of December 31 2017, the Company had net working capital of USD 168.3M, with a quick ratio of 3.8 – 1, current assets to current liabilities. This comes after reductions in inventories and receivables resulting from operational consolidations, and from reclassifying certain liabilities from long-term to current.
   As of December 31 2017, the Company's stockholders' equity stood at USD 612.4M.
    FY 2017 income from SIAF's investment in Tri-Way was USD 12.0M, based on the full year ownership interest of 36.6% applied to Tri-Way's total 2017 net income of USD 32.8M. The 36.6% figure became effective October 5, 2017 after the one-year anniversary date of Tri-Way's consolidation, and SIAF's exercise of its option to convert Tri-Way's $41m in outstanding debt into an additional equity interest of 12.71%; equivalent to 12.71m common shares of Tri-Way, bringing SIAF's interest to 36.6% and 36.6m common shares.
    While pleased with the relative performance of Tri-Way, three growth avenues beyond those provided from reinvestment of available cash flow have been identified, if and when additional capital becomes available:

Roslyn, New York, March 21, 2018 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company" or "us"), a non-asset based global shipping and freight logistics integrated solution provider, today announced that its Chief Executive Officer, Mr. Lei Cao, released a Letter to Shareholders highlighting current activities and to outline its corporate strategy for 2018.  The letter is included in its entirety below:

To Our Valued Shareholders:

We delivered strong results for the fiscal year 2017. We launched an internet-based logistics platform where shippers can connect with independent trucking organizations. We streamlined our operations and improved cash flow. We strengthened our relationships with COSCO as well as several other leading state-owned China companies and have transitioned from a traditional shipping and freight agent company into an integrated global logistics solutions provider. I thank all of our shareholders for their ongoing support. As your company's CEO, I would like to take this opportunity to recap some of the highlights from the previous fiscal year as well as provide you with an update on a few of our recent developments during the fiscal 2017 year and outline our goals for the remainder of fiscal 2018.

FY 2017 Highlights

Our turnaround efforts first began in fiscal year 2016.  Our management team and Board of Directors conducted an in-depth review of Sino-Global's business model amid a changing industry landscape in global logistics. We outlined the Company's core strengths and weaknesses and, with the assistance of an outside consultant and the support of our Board, we developed a three-year strategic plan in an effort to transform the Company and expand our focus to an increasingly global strategy, as opposed to a centralized view solely based on the Chinese markets.

At the end of 2016, we decided on a new business model with a specific focus on producing revenues from our operations in the U.S. The new model will generate profits via an automated yet powerful online-driven portal by connecting short-haul container trucking companies with clients at the demand end. Our initial steps as a part of our new profit generating business model was to capitalize on management's relationships with China Ocean Shipping (Group) Company ("COSCO"), a world leader in shipping and logistics services. We wanted to offer our shipping partners a solution to the "port to door" transportation dilemma that many of them face. In Sino-Global's fiscal year 2017, we developed and launched a fully functional website-based platform where shippers can connect with independent trucking organizations to arrange for goods to be transported from U.S. ports to their final destination.

An ever-present challenge for importers into the United States is an imbalance of goods being transported into the country.  Approximately 90% of the containers that COSCO shipped back from the United States are returned empty, with the 10% often filled with waste-based products. However, the Chinese government recently set new environmental regulations that strictly prohibit the import of such products. As a solution, COSCO has adopted a new way to containerize goods that used to be shipped in bulk ("bulk-to-container"). As mentioned in previous releases, containerization offers suppliers a competitive price to transport their goods from the U.S. to China by utilizing the high rate of empty containers along these routes.

Given our long-standing relationship with COSCO, Sino-Global partnered again with the company to cross promote its "bulk-to-container" models on routes from the U.S. to China. Through this partnership, we are able to leverage our newly established on-line portal to strengthen our relationship with a leading shipping conglomerate by providing door-to-door logistics solutions.

The effectiveness and profitability of our newly-established business model is evidenced by the improvement of our financials throughout the trial operations period. By fiscal year end, revenues had increased over 56% as compared to the prior year, profit margins had risen to 56.5% as compared to 48.9% (at fiscal year-end 2016) and Sino-Global had turned an operating loss into an operating profit.  Our online logistics platform is off to a great start and we have entered into several agreements to further its growth with COSCO subsidiaries, an in-land transportation company, and with U.S.-based suppliers.

In 2017, we leveraged our relationship with COSCO to assist in the build-up of our internet portal. With the portal, we secured the service volume of the container-trucking online portal on demand. We believe this is a great start, but in order for the portal to remain successful we need to continue to provide a significant stable supply of participants on both sides of the platform.

On March 14, 2018 we completed a $3 million direct offering and sale of our common stock concurrent with the private placement of Series A and B Warrants to certain accredited investors.   We intend to use a portion of the capital raised towards the further development of our business in the U.S.

FY 2018 Prospects: Growth Catalysts

Our main objective for the calendar year 2018 is to continuously increase our business in the U.S. and to enhance the core competitiveness of our company in its market sector. To achieve this, we plan to further integrate technology into our business model to yield additional benefits for the Company and our clients. With the aid of specialized technology, we aim to strengthen our profit margins even further and to create efficient profitable opportunities between our logistic service networks in the U.S. and China. Over the long run, we hope to revolutionize and lead the market segment in which we specialize through the precise matching of our clients' needs with service providers.

In light of COSCO container shipping route from the U.S. to China, and the rising demand in China for U.S. based products combined with COSCO's empty container shipments rate along these routes (U.S. to China unutilized shipments currently averages around 80-90%), another key objective for 2018 and into fiscal year 2019 is to assist COSCO in the wide spread adoption of containerization. We intend to do this by continuing to build relationships and to partner with suppliers.

We have signed two agreements with leading suppliers for trial "bulk-to-container" runs, which were successfully completed and have started the new calendar year with a significant purchase order that we expect will generate approximately $10 million in gross revenue for the Company.  By leveraging our platform and relationships, we believe we can utilize an online-driven platform to take advantage of this trade imbalance on behalf of Sino-Global's primary customers.

On behalf of our board of directors and management, we thank you for your continued confidence and interest in Sino-Global. We also ask for your support for our transformation effort, allowing us time and a stable environment to reshape our business model and bring profitable returns for you, our shareholders.

Sincerely,

Mr. Lei Cao,
Chairman and CEO

Second Quarter 2018 Financial Results

• Total revenues increased 145.3% to $5.2 million, compared to $2.1 million.
• Earnings was $0.03 per basic and diluted share for the three-month period vs last years $0.11.

Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented, "We achieved significant growth in the quarter. The increase in revenues for the three-month period was primarily the result of an increase in business for our freight logistics and newly segmented bulk container services. The revenues generated for the three-month period from the freight logistics segment of our business increased by $3.1 million over the prior year period. However, due to the varying degrees of freight logistics services we provide, gross profit margin can differ drastically between the current quarter and the same period of the prior year."

"This quarter we ended our joint venture with Jetta Global on ACH Trucking Center and created a new segment of our operations, bulk cargo container services. As of quarter end, I am pleased to report that we have shipped 120 containers with 18 tons per container of sulfur from our Long Beach, California location to our customers in China. We expect to continue the build out of this portion of our operations, as profit margins are generally higher than other segments of our operations and are currently seeking new relationships with suppliers."

Chairman Cao concluded, "A little over a year ago, we launched our web-based short-haul container truck service platform and during the quarter, we entered into a new agreement to further the growth of this portal. With it further development we hope to attract and retain additional clients to the platform. We anticipate that the momentum started in the first half of the fiscal year will continue throughout 2018. In the months ahead, we will proceed with the rollout of our inland transportation management, freight logistics and container trucking and bulk cargo container services; as well as continue to foster and develop strong relationships with strategic partners and draw upon our in-depth industry knowledge to develop innovative value-added logistics solutions for our customers."

ROSLYN, N.Y., Feb. 5, 2018 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (SINO) ("Sino-Global", the "Company" or "we"), a non-asset based global shipping and freight logistics integrated solution provider, today announces the signing of a Purchase Agent Agreement (the "Purchase Order") with Chengdu Dingxu International Trade Ltd. ("Chengdu Dingxu"), a leading importer in the Sichuan province in China.

In November 2017, Sino-Global entered into an initial Strategic Collaboration Agreement with Sichuan Metals and Minerals IMP. & EXP. CORP ("SCMMC"), to conduct trial runs of the purchases and transport of approximately 2,400 metric tons or 120 containers of sulfur. The trial runs were successful and the original agreement marked the beginning of SCMMC's switch to containerization from the traditional bulk shipment of its products. Pursuant to the Purchase Order with Chengdu Dingxu, SCMMC will act as the sales agent with Sino-Global serving as the exclusive purchasing agent and logistics service provider of sulfur products in the United States for Chengdu Dingxu. The Company will be responsible for sourcing and the door to door transport of up to 100,000 metric tons, or approximately 5,000 containers of sulfur. Sino-Global expects to generate approximately $10 million in gross revenue (based on current market price) from the transaction and shipments are expected to begin in March 2018. The Purchase Order is set to expire, unless renewed, in December 2018.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "Sino-Global has worked with SCMMC in various capacities, and now, through our cooperation with Chengdu Dingxu, we have an opportunity yet again to fill a void and have all parties involved benefit. Approximately 90% of the containers shipped from the United States to China arrive empty. With this agreement, we are able to expand the utilization of containers over bulk shipments while securing these containers at a discounted price through our longstanding relationship with leading shipping conglomerate, COSCO. In addition to strengthening our relationship with COSCO, this agreement presents us with an opportunity to grow our short-haul trucking network. Meanwhile, still providing Chengdu Dingxu with the ease and peace of mind of handling all aspect of the purchase, shipment and transport of their sulfur supply in the U.S. We deliver a cost-effective door to door solution for the import/ export of products that are typically shipped in bulk. Sino-Global intends to continue to expand its partners globally in its effort to become a leading worldwide logistics service provider."

Guangzhou, China, Dec. 07, 2017 (GLOBE NEWSWIRE) -- GUANGZHOU, China-- Sino Agro Food, Inc. (OTCQX: SIAF | OSE: SIAF-ME), also referred to as “SIAF” or the “Company,” is an agricultural technology corporation focused on protein food including seafood and cattle. The Company produces, distributes, markets, and sells sustainable seafood and beef to meet growing demand for safe, quality food in China. The Company has posted an open memo to its shareholders and other interested parties to provide a comprehensive update on the operations of its investee, Tri-way Industries, Ltd. The document may be viewed or downloaded here: http://www.sinoagrofood.com/sites/default/files/Tri-way_Status_Nov-2017.pdf

CEO Commentary

Mr. Solomon Lee, CEO of Sino Agro Food, commented, “Our investors have expressed a desire for more detailed information of our operations and concepts behind plans for Tri-way Industries. Please take the time to read the lengthy memo, as we believe it provides an informative appraisal of recent operations, technical considerations, and seafood markets in China. We believe all of these to be positive. Even though occasional modifications to plans may be required, many present marginal opportunities.

The memo indicates history-based production extrapolation for several species, based upon SIAF’s proofs of concept and continual refinements at its first three aquafarms, dating from 2011, and at the Zhongshan aquafarm 4 facility in the last year plus. Tri-way’s historical financial profitability is a matter of record, reported quarterly. We remain highly confident that Tri-way is well positioned to increase both production numbers and gross margins, the pace of which would be accelerated if and when expected development capital additional to cash flow materializes.”

ROSLYN, N.Y., Nov. 29, 2017 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company" or "we"), a non-asset based global shipping and freight logistics integrated solution provider, today announces the signing of a Strategic Collaboration Agreement with Sichuan Metals and Minerals IMP. & EXP. CORP. ("SCMMC"), a subsidiary of Sichuan Foreign Trade Group Co Ltd., a leading state-owned importer/exporter in the Sichuan province in China.

Pursuant to the Strategic Collaboration Agreement, Sino-Global will serve as the exclusive purchasing agent and logistics service provider of sulfur products in the United States for SCMMC. The collaboration is in alignment with the Company's ongoing effort towards the containerization of imported commodities, shipped from the United States to China.  This agreement will also mark the beginning of SCMMC's switch to containerization from the traditional bulk shipment of its products by exclusively using Sino-Global's innovative and cost-effective door to door container solution for the transport of its sulfur products. SCMMC has begun placing orders with Sino-Global for the purchase of approximately 2,400 metric ton or 120 containers of sulfur. Sino-Global expects to generate approximately $360,000 of revenue from these initial orders, with the Company expecting additional sales contracts to be finalized in the coming months.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We are excited to enter into this agreement with SCMMC. With this agreement, we are able to leverage our long-term relationship with China COSCO, China's largest integrated shipping company, to secure these containers at a discounted price while offering SCMMC a cost-effective solution for the materials they traditionally ship via break bulk. We are confident that containerization offers key advantages over bulk shipments, and given the ongoing increase in Chinese demand we intend to capitalize on the opportunity that containerization provides. By partnering with one of the leading state-owned import companies in China, we increase the Company's exposure as global logistics service provider which we believe will lead to additional contracts and increase sales over the long term. We intend to continue to seek additional customers and strategic partnerships that will further supplement our end to end global logistics services in the future and drive value for our shareholders."

First Quarter 2018 Financial Results

• Total revenues increased 176.7% to $5.4 million, as compared to $1.9 million for the prior year. The increase was primarily the result of the Company's efforts to diversify its business.
• Earnings Per Share Basic and Diluted was $0.07 vs. $0.08.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We continue to focus on the advancement of our short-haul trucking business in the U.S. with the further buildout and development of our strategic logistics internet platform. We finished the basic layout in fiscal year 2017 and will continue to work to increase business for our short-haul trucking operations in the United States, which carry lower operating costs than other segments of our business."

Mr. Lei Cao concluded, "For the fiscal 2018 year, we expect to continue the development of our existing businesses. We will also focus on the bulk cargo containerized model in connection with our joint venture agreement with COSCO, as well as developing services models in the U.S. for supply chain logistics for products imported from China to the U.S. Our focus remains on the long-term success of our business and value creation for our shareholders. We intend to continue to maintain an active dialogue with investors as we strive towards becoming a leading global logistics service provider."

First Quarter 2018 Financial Results

• Total revenues increased 176.7% to $5.4 million, as compared to $1.9 million for the prior year. The increase was primarily the result of the Company's efforts to diversify its business.
• EPS Basic and Diluted was $0.07 vs. last years $0.00.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We continue to focus on the advancement of our short-haul trucking business in the U.S. with the further buildout and development of our strategic logistics internet platform. We finished the basic layout in fiscal year 2017 and will continue to work to increase business for our short-haul trucking operations in the United States, which carry lower operating costs than other segments of our business."

Mr. Lei Cao concluded, "For the fiscal 2018 year, we expect to continue the development of our existing businesses. We will also focus on the bulk cargo containerized model in connection with our joint venture agreement with COSCO, as well as developing services models in the U.S. for supply chain logistics for products imported from China to the U.S. Our focus remains on the long-term success of our business and value creation for our shareholders. We intend to continue to maintain an active dialogue with investors as we strive towards becoming a leading global logistics service provider."

Fourth Quarter 2017 Financial Results

• Total revenues increased by 151% to approximately $4.6 million for the three month period ended June 30, 2017. This increase was due to the Company's expansion efforts in the following sectors: inland transportation management, freight logistics and container trucking services.
• For the three months ended June 30, 2017, the Company reported a net income of $873,952, compared to a net income of $34,316 for the same period in prior year.

Management Comments

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "The fiscal 2017 year was a transformational period for the Company. We continued our restructuring efforts and as a result revenues increased over 56% compared to the prior year. We increased our profit margins, and turned an operating loss into an operating profit."

Fiscal Year 2017 Operating Highlights

Mr. Cao continued, "In addition to our strong financial results, we successfully completed several key objectives during the fiscal year. A few of these achievements include:

The restructuring of our business and wind down of our shipping agency, ship management and shipping and chartering services;
Providing a viable solution to the increasing disconnect between traditional shipping services and inland logistics with the development and launch of our fully functional internet-based portal;
Partnering with a number of trucking operators in an effort to enhance both the functionality and awareness of our internet-based application; and
Entering into two joint project agreements that will further evolve our logistics strategy involving a shift from the current bulk cargo transportation model to a containerized model."
"We first noted our intentions to develop an internet-based logistics platform at the end of fiscal 2016 and since then, we have made significant progress with this platform. In the coming quarters, we expect to continue to leverage our infrastructure to grow and further establish our service network in the U.S., as well as create new business channels around the globe," concluded Mr. Cao.

Expectations for Fiscal 2018

The Company plans to continue to streamline its business operations and improve operating efficiency through innovative technology, effective planning, budgeting, execution and cost control. The Company plans to develop new service lines along the shipping and freight logistics industry value chain, and leverage our relationships with COSCO, Zhiyuan Investment Group and other potential strategic business partners to expand our global business footprint.

ROSLYN, N.Y., May 26, 2017 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (SINO) ("Sino-Global", the "Company" or "we"), a non-asset based global shipping and freight logistic integrated solution provider, today announces the signing of two Project Agreements with Sinotrans Guangxi Co. ("Sinotrans Guangxi"), a subsidiary of Sinotrans Limited, which is a leading global integrated logistics service provider and COSCO Beijing International Freight Co., Ltd. ("COSFRE Beijing"), a subsidiary of China COSCO Holdings Company Limited (collectively referred to as "Project Agreements"). The Project Agreements are extensions of an initial Strategic Cooperation Framework Agreement and Inland Transportation Agreement that the Company entered into with Sinotrans Guangxi and COSFRE Beijing, respectively, in December 2016.

Pursuant to the Project Agreements, Sino-Global will continue its efforts with Sinotrans Guangxi and COSFRE Beijing to convert commodity in-bulk shipments to containerization of the commodities shipped between China and the United States. Containerization offers several benefits over bulk shipments which include increased speed and flexibility in the commodities transported as well as the ongoing rise in commodity prices and demand have resulted in the switch to containerization by producers seeking additional value over commodity in-bulk shipments.

Also, pursuant to the Project Agreements, Sino-Global will manage all ground logistics and custom declaration services in the U.S. for Sinotrans Guangxi and COSFRE Beijing. Currently, the commodities listed in the Project Agreements primarily include sulfur, soybean and petroleum jelly. As of the date of this release, COSFRE Beijing in partnership with Sino-Global, is now loading in total approximately 300 metric tons of sulfur in twenty-foot containers in Long Beach, California.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We are very excited to extend our Project Agreements with Sinotrans Guangxi and COSFRE Beijing. Containerization has key advantages over bulk shipments, which include containers being easily moved from one mode of transportation to another. We believe there is an opportunity that has been created by an imbalance in trans-pacific trade from China that has yet to be captured by the North American sector, particularly given the ongoing increase in Chinese demand. These Project Agreements allow the Company to capitalize on that opportunity and officially mark the continuance of its strategic partnerships with two leading China state-owned logistics and transportation companies, making Sino-Global a crucial partner in their U.S.-related business while further establishing our foothold in the U.S. logistics market, as a global logistics services provider."

Sinotrans Limited was incorporated in November 2002 and listed on the Hong Kong Stock Exchange the following year. Sinotrans Limited is and the company's main business is focused on integrating ocean freight, air freight, road and rail transport, international express, shipping agency, warehousing and distribution, terminal services and others to provide end-to-end supply chain solutions and one-stop services for its customers.

COSFRE Beijing, a subsidiary of China COSCO Holdings Company Limited, specializes in international freight forwarding, shipping agency and full supply-chain services.

Second Quarter 2017 Financial Results

• Total revenues increased 33.3% to $2.1 million, compared to $1.6 million.
• Earnings per basic and diluted share increased 161.1%, to $0.11 per share.

Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented, "We had a strong quarter with an increase in total revenue of 33%. This increase was primarily the result of a shift in our business services mix towards inland transportation management, freight logistics and container trucking services. The shift in services was first implemented last year in response to worsening market conditions in the shipping industry. As a result of this change in our business model, the Company is reporting higher profit margins and we believe the Company is now better equipped to address the needs of our evolving and expanding customer base."

Chairman Cao continued, "During the last quarter we continued our efforts to address industry challenges, and in December we completed the launch of our full-service logistics platform. Our new platform connects shippers with independent trucking organizations, and since launch the Company has entered into agreements with two major shipping conglomerates. These agreements not only strengthen our relationships with these businesses but, we anticipate, will lead to additional customers and strategic partnerships in the future."

"Sino-Global is confident that information and communication technologies can be adopted by traditional industries to meet contemporary supply and demand challenges, and in the months ahead we will continue the rollout of our inland transportation management, freight logistics and container trucking services; as well as foster strong relationships with our strategic partners and draw upon our technical abilities and in-depth industry knowledge to develop innovative value-added logistic solutions for our customers."

ROSLYN, N.Y., Jan. 12, 2017 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company" or "we"), a non-asset based global shipping and freight logistic integrated solution provider, today announced the signing of a Strategic Cooperation Agreement (the "Agreement") with China Ocean Shipping Agency Qingdao Co., Ltd. ("COSCO Qingdao") in which COSCO Qingdao will utilize the Company's full-service logistics platform to arrange for the transport of its container shipments into US ports. The agreement with COSCO Qingdao is a continuation of the Company's ongoing partnership with China Ocean Shipping Company ("COSCO") and will expand the Company's presence in the Shandong province as well as in other regions such as Ningbo, Xiamen and Guangzhou through COSCO Qingdao's relationship with local subsidiaries in the area.

Pursuant to the Agreement with COSCO Qingdao, and similar to that of the Company's previously announced inland transportation agreement with COSFRE Beijing (December 2016), Sino-Global will receive a percentage of the total amount of each transportation fee in exchange for the arrangement of inland transportation services for COSCO Qingdao's container shipments into US ports.

The Company continues to work to expand its business to provide logistics services to customers who ship goods into the US. COSCO Qingdao will receive a percentage of the Company's profits for any additional customers the Company obtained through referral business.

COSCO Qingdao is a part of COSCO International Freight Co., Ltd., a subsidiary that operates under China Ocean Shipping (Group) Company and China COSCO Holdings Company Limited ("China COSCO Holdings") and that specializes in international freight forwarding, shipping agency and full supply-chain services.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We continue to seek strategic partnerships and joint venture opportunities that will expand the Company's reach and reinforce our long-term strategic vision of becoming a global logistics services provider. We look forward to growing our cooperative efforts with COSCO and to entering into similar partnerships with other local subsidiaries."

ROSLYN, N.Y., Jan. 9, 2017 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company" or "us"), a company engaged in shipping, chartering, logistics and related services, today announced that it has entered into a joint venture agreement with Jetta Global Logistics Inc ("Jetta"). Pursuant to the agreement, short haul transportation services will be provided for all shipping requests received via the Company's new full service logistic platform.  

Sino-Global's proprietary logistics management application was launched in December 2016 to seamlessly connect shipping customers with short to long haul trucking transportation services throughout the United States.  The Company designed the website portal to enhance productivity and convenience for customers and partners while simultaneously providing Sino-Global with a steady fee income from providing the connection.  The application is accessible through the Company's website at www.sino-global.net. The joint venture will be entitled to exclusively utilize this application for the services in the New York and New Jersey area.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "The joint venture agreement is a step forward in assisting our customers throughout the entire logistic supply chain. Through the agreement, we are able to ensure that our customers in China will be connected with short haul trucking transportation services for all shipments arriving in New Jersey and New York ports. The agreement will leverage our new logistic web-based application and the Company will collect a percentage of the total profits for the connection. We intend to continue to seek additional customers and strategic partnerships that will further supplement our end to end global logistics services in the future and for the long-term."

Jetta Global Logistics Inc is a licensed and insured freight shipping and trucking company that provides container trucking, freight forwarding and custom clearance services to customers located throughout New York and New Jersey.

ROSLYN, New York, Dec. 22, 2016 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (SINO) ("Sino-Global", the "Company" or "we"), a non-asset based global shipping and freight logistic integrated solution provider, today announced the launch of their new full service logistic platform. The proprietary logistics management application is accessible through the Company's website at www.sino-global.net and seamlessly connects shipping customers with short to long haul trucking transportation services throughout the United States. The Company designed the website portal to enhance productivity and convenience for customers and partners while simultaneously providing Sino-Global with a steady fee income from providing the connection.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We are pleased to end 2016 with the launch of our fully functional website-based portal where shippers can connect with independent trucking organizations. Building a seamless connection that made economic sense for shippers, truckers, and end customers has been one of the Company's primary goals throughout the year. We are working to continue to partner with trucking operators and major shipping conglomerates as a part of the continued rollout of the portal and to further enhance functionality of the website. We believe that our full service logistic website will attract additional customers and alleviate some of competition as our online logistic strategy allows us to capitalize on ever growing trend of e-commerce and provides us with an opportunity to better serve our customers throughout the entire logistics supply chain."

First Quarter 2017 Financial Results

• Total revenues for the three months ended September 30, 2016 were $1.9 million, compared to $2.7 million in the same period for the prior year.
• Net income for fiscal year 2017 first quarter was $637,785 compared to net income of $155,048, largely as the result of a change in service mix towards inland transportation services.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We continue to operate in an industry that is always changing, and Sino-Global must evolve to meet the needs of the market. We have maintained the Company's ultimate goal of alleviating the challenge of logistics across multiple regions throughout the world and, in August, we announced the development of an internet-based application that will provide a full-service logistics platform between the US and China to short-haul trucking companies in the US. Our Company offers a unique value proposition that is well-equipped to help connect logistics and supply chains.  By the end of this calendar year, Sino-Global expects to launch a fully functional internet-based portal where shippers can connect with independent trucking organizations. We will manage this portal and provide a one-stop shop where both parties can directly communicate for the delivery of shipments.  We have designed the system to enhance productivity and convenience for our customers and partners while providing Sino-Global with a steady fee income from providing the connection. We are excited about the launch and in the fiscal year 2017 first quarter, we began to recognize revenues from freight logistic services. In the next few months we expect to partner with a number of trucking operators as we rollout the portal and enhance its functionality.  We will launch a new Sino-Global website highlighting this endeavor and outlining our future plans for the fiscal year 2017 and beyond. We intend to continue to maintain an active dialogue with our shareholders throughout the process and can say with confidence that what we are building has all the ingredients required for long-term success and value creation for our shareholders."

ROSLYN, New York, Nov. 1, 2016 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (SINO) ("Sino-Global", the "Company" or "we"), a non-asset based global shipping and freight logistic integrated solution provider, today announced that its Chief Executive Officer, Mr. Lei Cao, released a Letter to Shareholders updating current activities and outlining its corporate strategy for 2016 and 2017.  The letter is included in its entirety below:

To All Our Valued Shareholders:

I wish to thank all of our shareholders for your continued support since our initial public offering. As Sino-Global's CEO, I would like to take this opportunity to provide you with some recent developments and milestones which we have achieved, that I hope will answer many questions and validate your long term investment in our Company.

We continue to operate in an industry that is always changing, and Sino-Global must evolve to meet the needs of the market.  When we completed our IPO in 2008 and listed on Nasdaq, the Company was focused on shipping agency services predominantly in China.  In 2013, this expanded to include inland transportation management and shipping management.  However, we continued to see both the importance of diversifying our business while recognizing the increasing disconnect between traditional shipping services and inland logistics across multiple continents.  During this same period, the Chinese economy experienced a slowdown, which created a disruption in our market that included increased competition for our services in China with pricing that we deemed unsustainable for long-term growth.

We have maintained the Company's ultimate goal of alleviating the challenge of logistics across multiple regions throughout the world and, in response to the slowdown of the Chinese economy and increases in local competition in 2013, we developed and strengthened our business operations in the United States (New York and Los Angeles), Canada (Montreal) and Australia (Perth). Combining our existing operations, experienced management team and established relationships in shipping markets worldwide, we believe we are well equipped to build a seamless connection that made economic sense for shippers, truckers, and the end customers.

Development of Internet-Based Logistics Strategy

Throughout 2016, Sino-Global continued to execute on this business strategy, while streamlining our operations and improving our free cash flow.  In March, we announced the expansion of Sino-Global in the United States market through the formation of a new U.S. based subsidiary, Sino-Global Shipping LA Inc., located in L.A. ("Sino LA"), and on May 3rd, announced that Sino LA had entered a memorandum of understanding with Yaxin International Co., Ltd., which represents our first customer agreement for the west coast operation.

With the development of this new subsidiary, we felt that our Company was in the right position to work toward a solution to bridge the gap between shipping services and inland transportation between China and the US.

In August, we announced the development of an internet-based application that will provide a full-service logistics platform between the US and China to short-haul trucking companies in the US.  After speaking with several existing and potential customers, we felt that our Company was uniquely suited to deliver a proposition that helped to connect these parties.

By the end of the year, Sino-Global will launch a fully functional internet-based portal where shippers can connect with independent trucking organizations.  We will manage this portal and provide a one-stop shop where both parties can directly communicate for the delivery of shipments.  We have designed the system to enhance productivity and convenience for our customers and partners while providing Sino-Global with a steady fee income from providing the connection.  The process is not dissimilar from the current market for transportation network companies, or "ride-sharing applications."  We are excited about the launch and expect to begin recognizing revenues from our portal in the current 2017 first quarter.

In the next few months we expect to partner with a number of trucking operators as we rollout the portal and enhance its functionality.  We will launch a new Sino-Global website highlighting this endeavor and outlining our future plans for the fiscal year 2017 and beyond.  We intend to continue to maintain an active dialogue with our shareholders throughout the process.

We can say with confidence that what we are building here has all the ingredients required for long-term success and value creation for our stock.  On behalf of our board of directors and management team, we thank you for your investment in our company and your continued interest in Sino-Global.  Together we believe we can provide significant value accretion to our stockholders.

Sincerely

Mr. Lei Cao,
Chairman and CEO

ROSLYN, N.Y., Sept. 19, 2016 /PRNewswire/ – Sino-Global Shipping America, Ltd. (SINO) ("Sino-Global", the "Company" or "us"), a non-asset based global shipping and freight logistic integrated solution provider, today announced its financial and operating results for the year ended June 30, 2016.  The Company has also provided extensive industry information on its Form 10-K filed this afternoon, and management encourages investors to review the document for both background on Sino-Global's business and history as well as strategy for the coming fiscal year.

Management Comments

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "Throughout the year, we continued to execute on a business strategy aimed toward expanding our revenue base and leveraging our considerable industry experience as a non-asset based logistics provider.   We continued to diversify from our legacy shipping agency operation in fiscal 2016, while streamlining our operations and improving our free cash flow.  In March, we announced the expansion of Sino-Global in the United States market through the formation of a new U.S. based subsidiary, located in L.A., and on May 3rd announced we had entered a memorandum of understanding from Yaxin International Co., Ltd., which represents our first customer agreement for the west coast operation.  We also recently announced the development of a mobile application that will provide a full-service logistics platform between the US and China to short-haul trucking in the US.  After speaking with several existing and potential customers, we believe that Sino-Global's experience in providing logistics service and solutions, coupled with our long term relationships with major shipping carriers, provide a competitive advantage to build a mobile-based platform.  We have a strong capital position, and are optimistic about the prospects for the Company."

Fiscal Year 2016 Operating Highlights

(all comparisons to the prior year)

Total revenues were $7.3 million, compared to $11.3 million, largely due to lower revenues from the Company's shipping agency services segment due to a general economic slow-down and rising labor costs in China and additional competition within the industry, with established and new competitors offering rates that in many cases are much lower than the Company was willing to offer.  As a result, the Company began to explore new avenues for potential revenue enhancement through the development of logistic solutions throughout the United States.
In January 2016, the Company formed a new subsidiary Sino-Global Shipping LA Inc. for the purpose of expanding its business into providing logistic services including cargo forwarding and truck transportation and customs filing services to customers. The Company expects this new business line will help expand its platform to generate increased revenue in the near future.
Expectations for Fiscal 2017

The Company's Board of Directors has authorized management to move forward with the development of a mobile application that will provide a full-service logistics platform between the US and China to short-haul trucking in the US.  Sino-Global is currently evaluating technology and business partners to move forward with the development of the mobile application, which the management hopes to launch in 2017.

ROSLYN, N.Y., Aug. 31, 2016 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company" or "us"), a non-asset based global shipping and freight logistic integrated solution provider, today announced that its Board of Directors has authorized management to move forward with the development of a mobile application that will provide a full-service logistics platform between the US and China to short-haul trucking in the US.

The decision follows an extensive review by the Company's management team and Board in identifying Sino-Global's key competitive advantages as an expert in global logistics between the US and China, and then leveraging that experience to both address the needs of its customer base and provide solutions to current issues affecting logistics and supply chain. The Company completed a market analysis and feasibility study related to building a mobile based logistics application for short-haul trucking in US ports to better manage the over 25 million containers, or TEU moving between China and US each year.

Explaining the Market Need

The results of the study revealed that there was a tremendous bottleneck between the huge demands of door to door container logistics service in China and small scale independent fleet owners in US ports. The Company feels that its experience in providing logistics service and solutions, coupled with its long term relationships with major shipping carriers, provide it a competitive advantage to build a mobile-based platform.

Sino-Global is currently evaluating technology and business partners to move forward with the development of the mobile application, which the management hopes to launch in 2017.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We were very pleased with the findings of our initial research into a mobile-based logistics strategy. We believe that Sino-Global is in the right position to solve bottleneck issues in this traditional industry with mobile application technology. We connected with major shipping carriers in China and multiple small short-haul trucking fleet operators in US. Universally each one recognized the benefit of an easily accessible and transparent mobile logistic platform which will bring market efficiency to our industry. The Company estimates that this platform would create a considerable savings for major shipping carriers in China in terms of short-haul trucking in US and streamline the process, while also providing independent fleet operators with more opportunities of direct communication with clients and reducing intermediate steps. We will continue to update investors as we develop the application and are incredibly excited about its potential."

ROSLYN, N.Y., Aug. 8, 2016 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (SINO) ("Sino-Global", the "Company" or "us"), a company engaged in shipping, chartering, logistics and related services, today announced that it has received a letter from the NASDAQ Stock Market ("NASDAQ"), indicating that Sino-Global has regained compliance with the $1.00 per share minimum closing bid price requirement for continued listing on the Nasdaq Stock Market, pursuant to the NASDAQ marketplace rules.

NASDAQ indicated within its letter that since the Company has regained compliance with Listing Rule 5550(a)(2), or the Minimum Bid Price Rule, this matter is now clos

ROSLYN, N.Y., July 27, 2016 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company" or "us"), a company engaged in shipping, chartering, logistics and related services, today announced the signing of a Strategic Cooperation Agreement (the "Agreement") with COSCO Logistics (Americas) Inc. ("COSCO Logistics"), in which both companies will mutually provide logistics services between China and the United States and develop shipping customers as an end-to-end global logistics service. COSCO Logistics is part of China COSCO Holdings Company Ltd. (1919.HK/601919.SS), China's largest integrated shipping company which is publicly traded on both Shanghai Stock Exchange and Hong Kong Stock Exchange.

Sino-Global expects to work with COSCO Logistics to provide inland transportation services in US for shipments to and from China. The Company has worked to expand its business to provide logistics services to customers who ship goods into the U.S.A. In January 2016 Sino-Global formed a new subsidiary, Sino-Global Shipping LA Inc., and has been working to integrate inland trucking services to both coasts in the United States. These services include cargo forwarding, trucking and customs declaration and filing. The Company is seeking additional customer relationships and believes this partnership will assist in broadening its potential customer base.

As part of the Agreement, the two companies will also assess locations in America to potentially establish warehouse / distribution facilities in the coming months and share pricing information for short-haul trucking across selected regions of the country.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We are very excited to expand and reinforce our long-term relationship with COSCO. This Agreement combines our logistics expertise and relationships with that of COSCO's service component in Asia to provide a seamless bridge between China and the United States. We believe that both of our management teams share a similar vision for collaboration between merchants based in China and integrating trucking services in America coupled with the growing trend of e-commerce driven logistics services. Since establishing our west coast subsidiary, we have leveraged our global relationships to forge ahead with new customer agreements. We are very pleased with the progression and look forward to continuing to provide updates to our investors."

ROSLYN, N. Y., May 31, 2016 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company" or "us"), a company engaged in shipping, chartering, logistics and related services, today announced that it has entered into a strategic partnership with Shandong Hi-speed TEU Logistics Co., LTD. ("Shandong Hi-speed TEU"), to jointly establish a platform for coordinated transport between China and North America.

Shandong Hi-speed TEU was incorporated in April 2013 in Jinan City, Shandong, and is part of Shandong Hi-Speed Group Co. Group (http://www.sdhsg.com/en/), one of China's largest state-owned enterprises. The company's main business is focused on the creation and operation of inter-city and urban distribution platforms for transporting twenty foot equivalent units, or TEU, across China and globally.   

Sino-Global and Shandong Hi-speed TEU intend to cooperate in creating a standardized network that will unite carriers of TEUs in China via sea and rail and coordinate with parties in North America and Australia. The companies will serve both upstream and downstream customers through the platform, establishing a door-to-door logistics and supply chain service.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We intend to leverage our unique relationships in China to better form a true global logistics platform. The partnership with Shandong Hi-speed TEU will allow us to jointly build a platform that utilizes technology to assist customers through the entire shipping value chain. A customer on the platform in Shandong can carry a container via rail in China and ship it to North America, where it can be seamlessly sent to a vendor who delivers it to end customers. We believe that this is another step in our evolution to a global logistics provider."

Third Quarter 2016 Financial Results

• Total revenues were $1.2 million, compared to $2.5 million, largely due to a general economic slow-down and rising labor costs in China and driven by additional competition within the industry, with established and new competitors offering rates that in many cases are much lower than the Company was willing to offer.
• EPS -Basic and diluted was $(0.09) vs. last years earnings of $0.05.
  

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We continued to make progress in expanding our operations while simultaneously improving our free cash flow and strengthening our balance sheet. During the third quarter, we worked with our major customers to improve timely payments for outstanding receivables, and as a result collected nearly 80% of the total amounts outstanding from these customers. Our capital position is strong and the Company enters its fourth quarter in a solid position to execute our growth strategy. In March, we announced the expansion of Sino-Global in the United States market through the formation of a new U.S. based subsidiary, located in L.A., and on May 3rd announced we had entered a memorandum of understanding from Yaxin International Co., Ltd., which represents our first customer agreement for the west coast operation. We feel that the development of this L.A. subsidiary is a natural evolution for us to turn into a global logistics provider."

ROSLYN, N.Y., May 9, 2016 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global" or the "Company"), a company engaged in shipping, chartering, logistics and related services, today announced that the Listing Qualifications Staff of The NASDAQ Stock Market LLC ("NASDAQ") has granted the Company's request for an additional 180 calendar day extension within which to evidence compliance with the $1.00 per share minimum required for continued listing on The NASDAQ Capital Market pursuant to NASDAQ Marketplace Rule 5550(a)(2) (the "Minimum Bid Price Rule").

On November 6, 2015, the Company received a notification letter (the "Notice") from NASDAQ advising the Company that for 30 consecutive business days preceding the date of the Notice, the bid price of the Company's common stock had closed below the $1.00 per share minimum required for continued listing on The NASDAQ Capital Market pursuant to the Minimum Bid Price Rule. The Company was provided 180 calendar days, or until May 4, 2016, to regain compliance with the Minimum Bid Price Rule, and now has been granted until October 31, 2016 to regain compliance. The NASDAQ determination to grant the second compliance period was based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The NASDAQ Capital Market, with the exception of the bid price requirement, and the Company's written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary.

The Notice has no effect on the listing of the Company's common stock at this time and the Company's common stock will continue to trade on The NASDAQ Capital Market under the symbol "SINO."

ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OR LISTING.

On May 5, 2016, The NASDAQ Stock Market ("NASDAQ") granted Sino-Global Shipping America, Ltd. (the "Company") an additional 180 calendar days, or until October 31, 2016, to regain compliance with the $1.00 per share minimum required for continued listing on The NASDAQ Capital Market pursuant to NASDAQ Marketplace Rule 5550(a)(2) (the "Minimum Bid Price Rule").

As previously reported, on November 6, 2015, the Company received a notification letter (the "Notice") from NASDAQ advising the Company that for 30 consecutive business days preceding the date of the Notice, the bid price of the Company's common stock had closed below the $1.00 per share minimum required for continued listing on The NASDAQ Capital Market pursuant to the Minimum Bid Price Rule. The Company was provided 180 calendar days, or until May 4, 2016, to regain compliance with the Minimum Bid Price Rule. The Company was unable to regain compliance with the Minimum Bid Price Rule by May 4, 2016. The NASDAQ determination to grant the second compliance period was based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The NASDAQ Capital Market, with the exception of the bid price requirement, and the Company's written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary.

To regain compliance, the bid price of the Company's common stock must close at or above $1.00 per share for a minimum of ten consecutive business days at any time during the second 180-day compliance period. The Company intends to monitor the closing bid price of its common stock and may, if appropriate, consider implementing available options, including effecting a reverse stock split. There can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Rule or maintain compliance with the other listing requirements necessary for the Company to maintain the listing of its common stock on The NASDAQ Capital Market.

The Notice has no effect on the listing of the Company's common stock at this time and the Company's common stock will continue to trade on The NASDAQ Capital Market under the symbol "SINO."

ROSLYN, N.Y., April 5, 2016 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (SINO) ("Sino-Global" or the "Company"), a company engaged in shipping, chartering, logistics and related services, today announced that it has collected over $4.0 million in outstanding accounts receivables from two long-time customers of the Company.  This payment represented 80% of the total amounts outstanding from these two customers.  At December 31, 2015, the Company reported cash and cash equivalents of $1.1 million. The Company expects the receipt of payments to be reflected in its quarterly results for its third fiscal quarter ended March 31, 2016.

One customer, Tengda North-Western Ferroalloy, Ltd., reiterated its satisfaction with the Company's services and stated its intention to renew its contract with Sino-Global in the coming months.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We remain focused on improving our capital efficiency, including the timely receipt of outstanding payments. Going forward, we will continue to provide inland transportation services for our customers while organizing a timely payment mechanism for outstanding receivables under 180 days. The payment schedule has been agreed by both customers without any detriment to our strong relationships with them. This will also improve our capital position for potential future expansion plans."

ROSLYN, N.Y., Dec. 8, 2015 /PRNewswire/ --Sino-Global Shipping America, Ltd. (SINO)("Sino-Global" or the "Company"), a Virginia company engaged in shipping, chartering, logistics and related services, today announced that it has terminated an asset purchase agreement that was entered into on April 10, 2015 with Rong Yao International Shipping Limited ('Rong Yao" or the "Seller"), a Hong Kong company. Pursuant to the agreement, the Company was to acquire the Rong Zhou, an 8,818 gross tonnage oil and chemical transportation tanker, from the Seller for $10.5 million, including 1.2 million shares of the Company's common stock at a value of $1.85 per share.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We felt our time and resources were best spent focusing on the upside potential of our shipping and logistics services.  We believe that with greater scale we could integrate an asset management component to our operations but currently feel that there are substantial opportunities to leverage our asset-light platform to grow."

Under the terms of the termination agreement, the Seller will return the 1.2 million shares of common stock to the Company. In addition to the termination of the asset purchase agreement, all ship management and time chartering agreements signed between the Seller and Sino-Global will also terminate. Upon payment in full of any balances, Sino-Global will release the mortgage on the Rong Zhou.

First Quarter 2016 Financial Results

• First Quarter of FY 2016 net sales increased 5.6% to $54.2 million; net income decreased 10.5% to $7.2 million with EPS of $0.20.
• Earnings per share -Basic and diluted was $0.02 vs. last years same quarter of  $0.06

"We are very pleased with our performance on business operation, generating $7.2 million net income in the first quarter endedSeptember 30, 2015," said Mr. Li Tao, Chairman and Chief Executive Officer of China Green Agriculture." Looking ahead to the second quarter of fiscal year 2016, we expect net sales of $53.7 to $56 million, net income of $3 to $5 million, and EPS of $0.08 to $0.14 based on 36.9 million fully diluted weighted average shares outstanding for the second quarter ended December 31, 2015. We are confident in achieving our target for the second quarter of fiscal year 2016. "

Second Quarter Fiscal Year 2016 and Confirmed Fiscal Year 2016 Guidance

For the ongoing second quarter ending December 31, 2015, amid the marketing efforts both online and offline, management has expectation of net sales of $53.7 to $56 million, net income of $3 to $5 million, and EPS of $0.08 to $0.14 based on 36.9 million fully diluted shares. For the fiscal year ended June 30, 2016, management has expectation of net sales of $257.6 million to $269.4 million, net income of $21.1 million to $24.1 million, and an EPS of $0.57 to $0.65 based on 36.9 million fully diluted shares.

ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OR LISTING.

On November 6, 2015, the Registrant received a letter from The NASDAQ Stock Exchange regarding the Registrant’s failure to comply with NASDAQ Continued Listing Rule (“Rule”) 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share. A failure to comply with Rule 5550(a)(2) exists when listed securities fail to maintain a closing bid price of at least $1.00 per share for 30 consecutive business days. Based on the closing bid price for the last 30 consecutive business days (including, in particular, the period September 25, 2015 through November 5, 2015), the Registrant failed to meet the aforesaid requirement.

Under Rule 5810(c)(3)(A), the Registrant will be provided a compliance period of 180 calendar days, from November 6, 2015 to May 4, 2016, to regain compliance. If at any time during this 180 day period the closing bid price of the Registrant’s security is at least $1.00 for a minimum of ten consecutive business days, the Registrant’s compliance will be regained.

In the event the Registrant does not regain compliance in the first compliance period, it may be eligible to apply for an additional 180 calendar days to regain compliance subject to certain NASDAQ Rules and under the discretion of the NASDAQ Staff. However, if the Registrant is decided to be neither eligible to apply for curing the deficiency nor able to cure the deficiency then, it may be subject to delisting by NASDAQ.

ROSLYN, N.Y., Oct. 30, 2015 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO)("Sino-Global" or the "Company"), a Virginia company engaged in shipping, chartering, logistics and related services, announced today that it has commenced open market purchases under the Company's share repurchase program announced on October 13, 2015. During the period October 22 through 28, 2015, Sino-Global purchased approximately 8.2% of the shares traded at an average price of $0.84 per share.  

Mr. Lei Cao, Chief Executive Officer of Sino-Global, commented: "We began this program less than three weeks ago because we believe Sino-Global's current stock price does not reflect the Company's true value, giving us an opportunity to reacquire shares in the market at a favorable price for the benefit of our continuing investors."

The Company will continue to repurchase shares on the open market, subject to market conditions and at management's discretion. For the quarter ending December 31, 2015, Sino-Global intends to repurchase up to $100,000 of its common stock. Thereafter Sino-Global may repurchase an aggregate value of shares per quarter equal to 10% to 15% of the Company's quarterly net income for which the most recent quarterly or annual report has been filed. The Company will cooperate with a licensed broker to administer the plan in compliance with the safe harbor provided by Rule 10b-18. The program is set to continue until October 11, 2016.

ROSLYN, N.Y., October 17, 2015 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global" or the "Company"), a Virginia company engaged in shipping, chartering, logistics and related services, today announced the appointment of Ms. Tuo Pan as the Company's new Acting Chief Financial Officer ("Acting CFO"). Ms. Pan, a certified public accountant, currently serves as director of the Company's subsidiary, Sino-Global Shipping Australia Pty Ltd.

The appointment, effective October 15, 2015, is a result of the Company's decision to expand its management team and realign its internal resources and priorities. Ms. Pan will replace Mr. Anthony S. Chan who served as the Company's Acting CFO, Director and Executive Vice President since October 31, 2013. Mr. Chan is stepping down only as Acting CFO and will remain on the Board of Directors and retain his position as Executive Vice President to focus on assisting the Company in implementing its strategic and business plan and growing its logistics network in the United States.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We are indebted to Anthony for his hard work and contributions over the past two years as our Acting CFO. Under his leadership, Sino-Global has improved its margins, returned to profitability and reported two consecutive years of net profit. Working closely with me on strategic and operating issues, Anthony is a trusted professional and has implemented effective cost control procedures as we restructured and turned-around our shipping agency business. In light of our business plan for fiscal year 2016, we have decided to expand our management team so that Ms. Pan could look after the finance and accounting functions while Anthony could spend more time with me on strategy development and the business development front. Ms. Pan is a seasoned CPA and her experience and tenure with the Company since 2008 make her an excellent candidate for the Acting CFO. We are confident that she will make a positive contribution to the Company as our new Acting CFO."

Since 2008, Ms. Pan has overseen the finance and accounting functions of Sino-Global Shipping Australia Pty Ltd. Ms. Pan holds a certified public accountant qualification in Australia and received her bachelor's degree in Accounting and Finance and a master's degree in Advance Accounting from the Curtin University of Technology in Western Australia. From August 2007 to July 2008, Ms. Pan worked as Project Manager of Baker Tilly China Ltd.

NEW YORK, October 13, 2015 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global" or the "Company"), a Virginia company engaged in shipping, chartering, logistics and related services, announced today that its Board of Directors has approved a share repurchase program.

During the quarter ending December 31, 2015, the Company intends to repurchase up to $100,000 of its common stock. Thereafter the Company may repurchase an aggregate value of shares per quarter equal to 10% to 15% of Sino-Global's quarterly net income for which the most recent quarterly or annual report has been filed. The Company will repurchase the shares in the open market from time to time, subject to market conditions and at management's discretion. The program was authorized and went into effect on October 11, 2015 and will last through the next twelve months. The Company will cooperate with a licensed broker to administer the plan in compliance with the safe harbor provided by Rule 10b-18.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, commented: "We believe that Sino-Global's current stock price does not reflect the Company's true value. This share repurchase program reconfirms our confidence in and commitment to Sino-Global's future. As the Company continues to build its logistics network and expand its service platform, the share repurchase program should position us well for long-term growth, as we remain focused on returning value to our shareholders."

ITEM 8.01 OTHER EVENTS.

 
On October 13, 2015, the Registrant issued a press release announcing the implementation of a stock repurchase program. Pursuant to the stock repurchase program, the Registrant plans to repurchase up to $100,000 of its common stock during the quarter ending December 31, 2015 and to dedicate between 10% and 15% of its quarterly net income to repurchase stock thereafter during the term of the program. The repurchase program is expected to terminate twelve months after its commencement on October 11, 2015.

ITEM 8.01 OTHER EVENTS.

Sino-Global Shipping America, Ltd. (the “Company” or “Sino-Global”) previously issued a press release announcing and filed with the Securities and Exchange Commission (the “SEC”) a Current Report on Form 8-K dated April 10, 2015 and filed with the SEC on April 13, 2015, reporting that on April 10, 2015 the Company entered into an Asset Purchase Agreement dated April 10, 2015 with Rong Yao International Shipping Limited, a Hong Kong company (the “Vessel Seller”) regarding the acquisition (the “Vessel Acquisition”) of an 8,818 gross tonnage oil/chemical transportation tanker called the “Rong Zhou” (the “Vessel”).

As previously reported on a Current Report on Form 8-K dated May 20, 2015 and filed with the SEC on May 22, 2015, pending completion of the Vessel Acquisition, the Company’s Board of Directors approved the Company’s entry into time-chartering arrangements to facilitate the transition of the management and operation of the Vessel. Pursuant to the time chartering agreements, the Vessel Seller time-chartered the Vessel to the Company for a two-year period, and the Company time-chartered the Vessel to a third-party charterer (the “Charterer”) also for a two-year period, with both time chartering agreements commencing on May 20, 2015. Under the terms of the chartering agreements, the Charterer will pay the Company $7,500 per day, and the Company will in turn pay to the Vessel Seller $3,500 per day.

On September 24, 2015, the Company issued a press release announcing that it has been appointed by the Vessel Seller to oversee the ship management operation for the Vessel, and that such appointment by the Vessel Seller is intended to allow for a smooth transition of the eventual ownership of the Vessel to Sino-Global. In addition, Sino-Global announced that it has reached an agreement with the Charterer pursuant to which Sino-Global will become the exclusive general shipping agent for the Vessel. The Company believes that this agreement allows Sino-Global to maximize its service opportunities from the Vessel, including chartering, shipping agency and ship management services. Given its role as an overseer of the ship management operation for the Vessel Seller, Sino-Global is no longer required to remit the $3,500 per day chartering fee to the Vessel Seller but will be responsible for the review, approval and payment of related vessel operating expenses. Sino-Global plans to handle all related ship management duties via its existing ship management service platform in Hong Kong. The Company believes that the new general shipping agency services will generate revenues to Sino-Global of approximately $0.5 million in fiscal year 2016, which revenue is US dollar denominated.

Fourth Quarter 2015 Financial Results

Total net revenues for the quarter ended June 30, 2015 decreased by 17.7% to $3,095,361 from $3,762,018 for the same period in 2014.

As a result of the foregoing, Sino-Global had net income of $70,768 for the quarter ended June 30, 2015, compared to net income of $236,349 for same period in 2014. After deduction of non-controlling interest, net loss attributable to Sino-Global was $102,474 for the quarter ended June 30, 2015, compared to net income attributable to Sino-Global of $485,717 for same period in 2014.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, said, "We considered fiscal year 2015 a success, particularly given the overall challenges presented by the global economic environment and the softening of the Chinese economy. We believe that our restructuring efforts that began approximately two years ago have and continue to pay off; our integrated service platform has not only reduced our dependency on the shipping agency business but also enabled us to expand into other complementary service areas within the shipping and logistics business segments - offering us a solid and diverse service base to boost shareholder value.

"We expect the difficult macroeconomic conditions in fiscal year 2015 to continue in to fiscal year 2016; and we believe competition and rising labor costs in the PRC will continue to pressure our operating model. While fiscal year 2015 marks the second consecutive year of net income in the history of Sino-Global, we believe we must continue to diversify and are focused on diversifying our service platform; reduce our dependency on businesses and cash flows that are generated from China; and develop complementary shipping and/or logistics services based in the US. We have developed, and will continue to foster, strong strategic relationships with vessel owners to identify other business development and service opportunities in the shipping and/or logistics industry. For the coming months, we are heavily committed to expanding our freight forwarding and logistics services network in the United States and closing the vessel acquisition."

NEW YORK, Sept. 9, 2015 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ CM: SINO) ("Sino-Global" or the "Company"), a Virginia company engaged in shipping, chartering, logistics and related services, today announced the formation of SGS Logistics, the Company's U.S.-based freight forwarding and logistics services network (the "Network"). The Network is a part of Sino-Global's new strategic plan to grow its business in the U.S. and is intended to extend the Company's integrated service platform into the freight forwarding business. It is intended that during the initial phase, the Network will have operations in the North East and the West Coast; both operations will be led by industry veterans, each with over 20 years of experience in the shipping and logistics industries.

Freight forwarding and logistics services entail the transportation of cargoes from one destination to another, including the moving and processing of cargoes, management of necessary paperwork, duties, and compliance with related rules and regulations. Given the large scope of the international shipping business, along with its numerous requirements, the Company believes freight forwarding services presents a substantial business opportunity for Sino-Global. The Company believes that the Network and the resulting service platform would aid in the establishment of a U.S.-based door-to-door freight forwarding service platform for clients with containerized cargoes leaving the U.S. for China, or from China to the U.S. The Company believes these services will help ensure that cargoes get to their proper destination by an agreed upon date, and in good condition and they would include, among other things, custom clearance and trucking services. 

NEW YORK, August 25, 2015 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ CM: SINO) ("Sino-Global" or the "Company"), a Virginia company engaged in shipping, chartering and logistics services, today updated shareholders on the status of its chartering business and addressed concerns about the anticipated impact of Chinese governmental policies affecting the value of the yuan or Renminbi.

According to Mr. Lei Cao, Sino-Global's Chief Executive Officer, Sino-Global's previously-announced time charter agreement is proceeding according to plan. To date, Sino-Global has received a total of five payments from the charterer under the time charter agreement since it commenced on May 20, 2015. Since and including the first payment in June 2015, the time charter agreement has generated net profit to Sino-Global of approximately $300,000 on revenues of approximately $570,000.

The recent devaluation of the yuan by the Chinese authorities has, to date, had a negligible impact on Sino-Global's business. Mr. Lei Cao, Chief Executive Officer of Sino-Global, explained, "Because our time charter arrangement is entirely US dollar-denominated, and because the vessel operates in a highly specialized trade, a slowdown in the Chinese economy and changes in the value of the yuan have, to date, not adversely affected this business. As for our shipping agency business, we are paid in US, Australian and Canadian dollars, so our foreign exchange risk is not tied solely to the yuan."

Mr. Cao concluded by stating that, "While we do receive yuan for our inland transportation management services, we believe the devaluation is unlikely to have a material impact on our business because we use the yuan in connection with our Chinese operations. A significant slowdown in the Chinese economy might lower our business volume, but that is more a competition effect than a currency effect; and we believe we are among the best competitors in China in this business segment."

Mr. Cao, added, "To attempt to increase our service revenues, we are fostering our relationship with vessel owners, such as with Mr. Weixiong Yang, a vessel owner and a shareholder of Sino-Global as a result of his recent purchase of 500,000 shares of our restricted common stock in July 2015, to identify areas Sino-Global could provide its shipping services to them. As a shareholder of Sino-Global, Mr. Yang we believe, can help Sino-Global expand our service platform and leverage our integrated services to enhance the efficiency of his vessel operation."

Item 3.02    Unregistered Sales of Equity Securities.

On July 10, 2015, the Registrant sold 500,000 restricted shares of its common stock to Weixiong Yang in a private sale transaction. The aggregate offering price of the shares was $691,600, which was paid in cash. There were no underwriting discounts or commissions. The sale of stock was completed pursuant to an exemption from securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended, and Rule 506 of Regulation D. The shares were issued on July 13, 2015.

NEW YORK, June 30, 2015 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) ("Sino-Global" or the "Company"), a Virginia company engaged in shipping, chartering and related services, today announced that it secured a first priority ship lien from Rong Yao International Shipping Limited, a Hong Kong company (the "Vessel Seller") on the 8,818 gross tonnage oil/chemical transportation tanker called the "Rong Zhou" (the "Vessel"), being acquired by the Company pursuant to the previously announced Asset Purchase Agreement (the "Purchase Agreement"), and received a net payment of $225,000 in the first month of operation under a previously disclosed two-year time charter agreement ("TCA") for the Vessel which obligates the chartering party to pay Sino-Global every 15 days at a daily rate of $7,500.

In the event the acquisition of the Vessel by the Company does not occur, pursuant to the Purchase Agreement, the Vessel Seller is required to immediately pay to the Company $2.22 million in cash, the agreed value of the 1.2 million shares previously issued by the Company to the Vessel Seller as the first installment of the purchase price of the Vessel. The placing of the lien on the Vessel provides the Company with a definitive mechanism to assist the Company in obtaining the $2.22 million value of the shares issued to the Vessel Seller if the Vessel acquisition does not occur.

Mr. Lei Cao, Chief Executive Officer of Sino-Global said, "Securing a first priority ship lien helps protect the Company's investment in the event the acquisition of the Vessel does not occur; and the TCA allows Sino-Global to realize a daily profit of $4,000."

The Company believes, based on current expectations and information, that during the 2-year term of the TCA, the Company will generate revenues and net profit of approximately $5 million and $1.8 million, respectively.

Sino-Global intended to close on the acquisition of the Vessel by June 30, 2015, but agreed to extend the closing date in order to assist the Vessel Seller in satisfying its closing conditions pursuant to the Purchase Agreement.

Mr. Cao also stated that, "Sino-Global is actively pursuing other opportunities in the shipping and transportation industries, and the Company has identified certain opportunities consistent with the Company's growth plans."

ITEM 8.01       OTHER EVENTS.

Sino-Global Shipping America, Ltd. (the “Company” or “Sino-Global”) previously issued a press release announcing and filed with the Securities and Exchange Commission (the “SEC”) a Current Report on Form 8-K dated April 10, 2015 and filed with the SEC on April 13, 2015, reporting that on April 10, 2015 the Company entered into an Asset Purchase Agreement dated April 10, 2015 with Rong Yao International Shipping Limited, a Hong Kong company (the “Vessel Seller”) regarding the acquisition (the “Vessel Acquisition”) of an 8,818 gross tonnage oil/chemical transportation tanker called the “Rong Zhou” (the “Vessel”).

As previously reported on a Current Report on Form 8-K dated May 20, 2015 and filed with the SEC on May 22, 2015, pending completion of the Vessel Acquisition, the Company’s Board of Directors approved the Company’s entry into time-chartering arrangements to facilitate the transition of the management and operation of the Vessel. Pursuant to the time chartering agreements, the Vessel Seller time-chartered the Vessel to the Company for a two-year period, and the Company time-chartered the Vessel to a third-party charterer also for a two-year period (the “Sino Time Charter Agreement”), with both time chartering agreements commencing on May 20, 2015. Under the terms of the chartering agreements, the third party charterer will pay the Company $7,500 per day, and the Company will in turn pay to the Vessel Seller $3,500 per day.

On June 9, 2015, the Company issued a press release announcing that it received the first payment under the Sino Time Charter Agreement, in the amount of $113,500 for the 15-day period beginning May 20, 2015. A copy of the press release is attached to Current Report on Form 8-K as Exhibit 99.1 and should be read in conjunction with this Current Report on Form 8-K.

NEW YORK, June 9, 2015 /PRNewswire/ -- Sino-Global Shipping America, Ltd (NasdaqCM: SINO) ("Sino-Global" or the "Company"), a Virginia company engaged in shipping, chartering and related services, today announced that it received the first payment under a previously reported time charter agreement, in the amount of $113,500 covering the 15-day period starting May 20, 2015.

Mr. Lei Cao, Chief Executive Office of Sino-Global said, "This payment is a significant milestone for Sino-Global as we believe it tangibly demonstrates a new phase in the growth and expansion of Sino-Global as we expand and transition our business from strictly being a service provider in the shipping industry to an asset owner with an integrated, scalable service platform in the shipping industry. We believe as a result of the two-year time charter agreements, our shipping and chartering services will begin to make a significant contribution to our revenue growth going forward."

On April 10, 2015, Sino-Global signed an asset purchase agreement to acquire the Rong Zhou (the "Purchase Agreement"), an 8,818 gross tonnage oil/chemical transportation tanker (the "Vessel"), from Rong Yao International Shipping Limited, a Hong Kong company (the "Vessel Seller") for $10.5 million.

To help facilitate a smooth transition of the management and operation of the Vessel to Sino-Global, the Vessel Seller time-chartered the Vessel to Sino-Global for a two-year period, and Sino-Global, in turn, time-chartered the Vessel to a third-party charterer for the same two-year period both of which two-year periods commenced May 20, 2015. Under the terms of such chartering agreements, the third-party charterer will pay Sino-Global a chartering fee of $7,500 per day, and in turn, the Company will pay the Vessel Seller a chartering fee of $3,500 per day. The Company believes, based on current expectations and information, that during the two-year period of the charter agreements, the time charter agreements will generate revenues and net profit to Sino-Global of approximately $5 million and $1.8 million, respectively.

Under the terms of the Purchase Agreement, the Company issued to the Vessel Seller 1.2 million shares of its restricted common stock representing $2.22 million of the $10.5 million purchase price for the Vessel. The Company and the Vessel Seller agreed that each of the 1.2 million restricted shares issued to the Vessel Seller was valued at $1.85. The Company registered for resale on a registration statement on Form S-1, the Vessel Seller's 1,200,000 shares. Although the Company believes its acquisition of the Vessel will close on or about June 30, 2015, no assurances can be given when such closing will occur.

Pursuant to the terms of the Purchase Agreement, Sino-Global on closing, will pay the Vessel Seller an additional $5.5 million in the form of cash, or, in Sino-Global's discretion, cash and/or shares of its restricted common stock valued at a price per share of $1.85 (approximately 2,162,000 restricted shares). The issuance of any such additional shares of the Company's common stock to the Vessel Seller in connection with the Company's acquisition of the Vessel, is subject to approval by a majority of the Company's shareholders. The Company's shareholders will vote on such additional issuances at the Company's 2015 Annual Shareholders' meeting scheduled to occur on June 11, 2015.

The remaining $2.78 million balance of the Vessel purchase price (which is subject to adjustments as provided in the Purchase agreement for any defects in the Vessel discovered during the Company's inspection and trial run of the Vessel and during the 12 months following the closing of the Vessel acquisition), is payable in cash, additional shares of Sino-Global's restricted common stock and/or a combination thereof, as agreed to by the parties.

To help ensure that the Company has the technical expertise and ability to manage the Vessel, the Company's Board of Directors approved and Sino-Global entered into agreements with three separate independent consultants to provide ship management advisory services to the Company (including, but not limited to, crew management and vessel maintenance) for an 18-month period. In exchange for these services, Sino-Global issued a total of 500,000 shares of its common stock to these consultants on May 27, 2015. Such 500,000 shares are covered by the Company's Registration Statement on Form S-8. The related non-cash charge of $794,950 will be ratably charged to the Company's income over the term of the agreements.

Sino-Global recently filed its Quarterly Report on Form 10-Q for its fiscal year 2015 third quarter (the "10-Q"). Among the highlights in the 10-Q are:

• Total revenues for the three months ended March 31, 2015 increased 20.8% to $2,526,762 with revenues from inland transportation management services grew 49.5% to a record level of $1,295,580.
• Operating margin increased to 9.4% for the three months ended March 31, 2015 from 3.4% for the same period of 2014.
• Basic and diluted EPS of $0.05 for the three months ended March 31, 2015 marked the seventh consecutive quarter of net profit for the Company.

Third Quarter 2015 Financial Results

Calculation of Registration Fee

1,200,000 Shares of

Common Stock

 
SINO-GLOBAL SHIPPING AMERICA, LTD.

This prospectus relates solely to the offer and sale from time to time of up to 1.2 million shares of our common stock for the account of the selling shareholder named in this prospectus. The selling shareholder acquired such 1.2 million shares from us pursuant to the terms of an Asset Purchase Agreement dated April 10, 2015, by and between us and the selling shareholder, pursuant to which we agreed to purchase from the selling shareholder, subject to various terms and conditions set forth in the Asset Purchase Agreement, an 8,818 gross tonnage oil/chemical transportation tanker named the Rong Zhou (the “Vessel”). Such 1.2 million shares represents $2.22 million of the $10.5 million purchase price of the Vessel, and are not subject to redemption and/or cancellation by us regardless of whether we acquire the Vessel. Except for shares issued and/or to be issued by us to the selling shareholder pursuant to the Asset Purchase Agreement, neither prior to nor subsequent to us entering into the Asset Purchase Agreement and/or closing of the acquisition of the Vessel, did or will the selling shareholder hold any position, be a director, have any material relationship and/or own any securities of us and/or any of our predecessors or affiliates.

Calculation of Registration Fee

NEW YORK, April 13, 2015 /PRNewswire/ -- Sino-Global Shipping America, Ltd (NasdaqCM: SINO) ("Sino-Global" or the "Company"), a shipping agency, logistics and ship management services company today announced that it has entered into an Asset Purchase Agreement dated April 10, 2015 by and between Sino-Global and Rong Yao International Shipping Limited, a Hong Kong company (the "Vessel Seller"), pursuant to which the Company agreed to acquire, subject to a number of closing conditions, Rong Zhou, an 8,818 gross tonnage oil/chemical transportation tanker (the "Vessel") from the Vessel Seller; and in connection therewith, the Company issued to the Vessel Seller 1.2 million shares of its restricted common stock representing $2,220,000 of the $10.5 million purchase price for the Vessel. Sino-Global and the Vessel Seller agreed that each of the 1.2 million shares issued to the Vessel Seller was valued at $1.85. In connection therewith, the Company agreed to file a registration statement covering the offer and resale of the 1.2 million shares issued to the Vessel Seller. Although the Company believes the acquisition of the Vessel will close on or about June 30, 2015, no assurances can be given when such closing will occur.

Mr. Lei Cao, Chief Executive Office of Sino-Global said, "This acquisition marks the next step of our turnaround story as we expand our business from being a service provider to an asset owner with an integrated, scalable service platform. We are extremely excited about the Vessel acquisition as we believe it will strengthen our operating cash-flows, broaden our revenue streams and enhance our ability to deliver sustainable earning growth."

ITEM 8.01       OTHER EVENTS.

On April 13, 2015, Sino-Global Shipping America, Ltd. (the “Company” or “Sino-Global”) issued a press release announcing it entered into an Asset Purchase Agreement dated April 10, 2015 by and between Sino-Global and Rong Yao International Shipping Limited, a Hong Kong company (the “Vessel Seller”), pursuant to which the Company agreed to acquire, subject to a number of closing conditions, the “Rong Zhou,” an 8,818 gross tonnage oil/chemical transportation tanker (the “Vessel”) from the Vessel Seller; and in connection therewith, the Company issued to the Vessel Seller 1.2 million shares of its restricted common stock representing $2,220,000 of the $10.5 million purchase price for the Vessel. Sino-Global and the Vessel Seller agreed that each of the 1.2 million shares issued to the Vessel Seller was valued at $1.85. In connection therewith, the Company agreed to file a registration statement covering the offer and resale of the 1.2 million shares issued to the Vessel Seller. Although the Company believes the acquisition of the Vessel will close on or about June 30, 2015, no assurances can be given when such closing will occur.

NEW YORK, March 25, 2015 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) ("Sino-Global" or the "Company"), a shipping agency, logistics and ship management services company, today announced that it has signed a Letter of Intent (the "LOI") to acquire a small oil/chemical tanker (the "Vessel") from Rong Yao International Shipping Limited, a Hong Kong corporation (the "Vessel Seller"). The LOI updates the Memorandum of Understanding (the "MOU") that was entered into by and between the Company and the Vessel Seller in January 2015. Since the signing of the MOU and the filing of its Current Report on Form 8-K with the Securities and Exchange Commission on January 26, 2015, Sino-Global has been undertaking its due diligence of the Vessel and continuing its negotiations with the Vessel Seller on, among other items, closing conditions, the purchase price, post-closing purchase price adjustments and the form of payment of the purchase price. Pursuant to the terms of the LOI, the Company and the Vessel Seller have agreed generally that, upon and subject to the closing of the proposed acquisition of the Vessel, Sino-Global will issue 1.2 million shares of its common stock to the Vessel Seller as partial payment of the Vessel purchase price. The parties further agreed that such payment should be valued at $2.22 million, with each share of the Company's common stock being valued at $1.85.

The Company intends to finance the Vessel acquisition through the issuance of its securities to the Vessel Seller and bank borrowings. The purchase of the Vessel shall be made pursuant to the terms and conditions of a definitive vessel purchase agreement that is being negotiated between the Company and the Vessel Seller, subject to financing, board and regulatory approvals and customary closing conditions.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, indicated that the Vessel Seller's willingness to accept $2.22 million of any purchase price agreed to by the Company and the Vessel Seller through the issuance to the Vessel Seller of 1.2 million shares of Sino-Global's common stock at a 23% premium to the March 20, 2015 closing price of Sino-Global's common stock on the Nasdaq Capital Market, is an important and significant validation of the Vessel Seller's belief in the Company's strategic direction, its growth potential and the ability of Sino-Global's seasoned senior management team to execute its business plan."

After careful consideration of, among other factors, the Vessel Seller's agreement to accept 1.2 million shares of Sino-Global's common stock valued at $2.22 million, the current market price of the Company's common stock, which the Company's Board of Directors (the "Board") believes is undervalued, and the Board's continued focus on protecting and increasing shareholder value and making decisions in what it believes to be the best interest of the Company's shareholders, the Company has determined to terminate its current securities offering.

ITEM 8.01       OTHER EVENTS.

On March 25, 2015, Sino-Global Shipping America, Ltd. (the “Company” or “Sino-Global”) issued a press release to further update its press release issued on January 26, 2015 (the “Press Release”) and its Current Report on Form 8-K dated January 26, 2015 filed with the Securities and Exchange Commission (the “SEC”) on January 26, 2015 (the “1/26/2015 8-K”) disclosing that the Company had entered into a Memorandum of Understanding to acquire, subject to a number of conditions, a small oil/chemical tanker (the “Vessel”) from Rong Yao International Shipping Limited, a Hong Kong corporation (the “Vessel Seller”). Since the issuance of the Press Release and the filing with the SEC of the 1/26/2015 8-K, the Company has been undertaking its due diligence of the Vessel and continuing its negotiations with the Vessel Seller on the purchase price, closing conditions, post-closing purchase price adjustments, and the form of payment of the purchase price. In March 2015, the Company and the Vessel Seller agreed generally that upon and subject to the closing of the proposed Vessel acquisition, Sino-Global will issue 1.2 million shares of its common stock to the Vessel Seller as partial payment of the Vessel purchase price. The parties further agreed that such payment will be valued at $2.22 million, with each share of the Company’s common stock being valued at $1.85.

Mr. Lei Cao, Chief Executive Officer of the Company, indicated that the Vessel Seller’s willingness to accept $2.22 million of any purchase price agreed to by Sino-Global and the Vessel Seller through the issuance to the Vessel Seller of 1.2 million shares of Sino-Global’s common stock at a 23% premium to the March 20, 2015 closing price of Sino-Global’s common stock on the Nasdaq Capital Market, is an important and significant validation of the Vessel Seller’s belief in the Company’s strategic direction, its growth potential and the ability of Sino-Global’s seasoned senior management team to execute its business plan.

After careful consideration of, among other factors, the Vessel Seller’s agreement to accept 1.2 million shares of Sino-Global’s common stock valued at $2.22 million, the current market price of the Company’s common stock, which the Company’s Board of Directors (the “Board”) believes is undervalued, and the Board’s continued focus on protecting and increasing shareholder value and making decisions in what it believes to be the best interest of Sino-Global’s shareholders, the Company has determined to terminate its current securities offering.

Calculation of Registration Fee

Calculation of Registration Fee

Second Quarter 2015 Financial Results

• Total revenues for the three months ended December 31, 2014 grew 25.1% to $3,092,580 with revenues from Inland Transportation Management Services increasing 187.1% to a record level of $1,292,081.
• Basic and diluted EPS of $0.02 for the three months ended December 31, 2014 marked the sixth consecutive quarter of net profit for the Company. The decline in EPS was due primarily to higher general and administrative expenses as a result of increased business development and capital raise activities.

ITEM 8.01       OTHER EVENTS.

 
On January 26, 2015, the Registrant (the “Company”) released a press release announcing the entry into a Memorandum of Understanding (the “MOU”), by and between the Company and Rong Yao International Shipping Limited (the “Vessel Seller”), a Hong Kong corporation, pursuant to which the Company agreed to acquire a small oil/chemical tanker (the “Vessel”) from the Vessel Seller. The closing of the proposed Vessel acquisition will be subject to a number of closing conditions including, but not limited to, the parties negotiating and entering into definitive purchase agreements, the Company obtaining, on terms and conditions satisfactory to the Company, the financing necessary to pay all or the required cash portion of the purchase price for the Vessel (which may include proceeds received from the Company from the sale of its securities and/or loans from third parties), approval of the Board of Directors of the Company, satisfactory completion by the Company of its due diligence related to the Vessel and obtaining all necessary consents, approvals and permits for the Company to acquire and operate the Vessel. The MOU is not considered a material definitive agreement but management believes the news is likely to be of interest to shareholders.

Calculation of Registration Fee

Calculation of Registration Fee

First Quarter 2015 Financial Results

• Total revenues decreased by 21.5% to $2,605,925 for the three months ended September 30, 2014 from $3,317,661 for the same period of 2013.
• Basic and diluted EPS of $0.06 for the three months ended September 30, 2014 marked the fifth consecutive quarter of net profit for the Company.

Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented: "We are pleased to report our fiscal year 2015 first quarter financial results that feature: 1) year-over-year growth in revenues from both the Shipping Agency and Inland Transportation Management Services and positive contribution from the newly acquired Ship Management Services and 2) improvement in overall gross margins. The results marked the fifth consecutive quarter of net profit for Sino-Global, reflecting the benefit of our streamlined operations and diversified services platform."

Mr. Cao, continued: "Looking ahead, we believe that the difficult macroeconomic conditions, increasing competition in our industry and rising labor costs will continue in coming quarters. That said, we also believe that our stringent cost management and ongoing efforts to broaden revenue streams along the shipping industry value chain should position us well for growth in the long run."

Calculation of Registration Fee

Fourth Quarter 2014 Financial Results

• Total revenues increased by 452.5% year-over-year to $3,762,017 for the three months ended June 30, 2014 from $680,856 for the same period of 2013.
• Net income for the three months ended June 30, 2014 was $236,348, compared to net loss of $1,357,845 for the same period of 2013. After deduction of non-controlling interest, net profit attributable to Sino-Global was $485,716, or $0.10 per diluted share, for the three months ended June 30, 2014, compared to net loss attributable to Sino-Global of $1,151,426, or net loss of $0.24 per diluted share, for the same period of 2013.

Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented: "Fiscal year 2014 was a turnaround year for Sino-Global. First, we restructured and streamlined our Shipping Agency business by focus on cutting overhead, trimming lower-margin contracts and developing higher-margin segments. Leveraging our business relationship with Zhiyuan, we also reduced our dependency on Shipping Agency Services and successfully expanded our service platform and gained expertise in Shipping and Chartering Services and Inland Transportation Management Services. As a result, we reported our first profitable fiscal year since our initial public offering in 2008."

Mr. Cao, continued: "Looking ahead, we expect the difficult macroeconomic conditions to continue in fiscal year 2015 and believe competitions and rising labor costs in the PRC will continue to put pressure on our operating model, particularly our Shipping Agency business. However, we believe the building blocks that we put in place during fiscal year 2014 will allow us to continue to carry out our strategy - to grow the business through effective cost control, monetization of strategic relationship with Zhiyuan and Zhenghe, and new service offerings along the shipping industry value chain, and deliver more sustainable growth and earnings in the future."

PINGDINGSHAN, China, Sept. 9, 2014 (GLOBE NEWSWIRE) -- SinoCoking Coal and Coke Chemical Industries, Inc. (Nasdaq:SCOK), a vertically-integrated coal and coke processor, today said it has signed an exclusive agreement with both the Institute of Process Engineering of the Chinese Academy of Sciences and the North China Institute of Science and Technology to refine and implement a technology that will be used, beginning next month, to convert the 21 million tons of coal at four SinoCoking underground mines into syngas, a clean burning fuel.

The technology will accomplish this conversion without releasing meaningful levels of carbon dioxide or other greenhouse gases above ground, said SinoCoking.

Located in Henan Province, these mines have been shut down for three years due to Chinese government-mandated mine consolidation guidelines. Now, however, these properties can be reactivated and their resources utilized in an environmentally friendly manner, said the company.

The first phase of the project, which will cost approximately $18 million and be funded primarily from SinoCoking's cash reserves, is expected to be completed in February 2015 and yield a combined syngas output of 60,000 cubic meters per hour. This output will produce incremental gross profit in 2015 of from $30 to $45 million, said SinoCoking.

Subsequent phases of the project, expected to be completed by the end of 2016, will cost about $280 million and will be funded primarily from bank loans and company-issued debt. At completion, the project is expected to have an output capacity, subject to market demand, of 880,000 cubic meters of syngas per hour.

Customers for this syngas will be comprised primarily of local power, chemical and transportation companies as well as households requiring electricity in Henan Province, said SinoCoking.

"We are thrilled and honored to be working with the Institute of Process Engineering and North China Institute of Science and Technology on this vital project," said SinoCoking Chairman and CEO Mr. Jianhua Lv. "The production of this vast new quantity of syngas � a clean burning fuel � while preventing the escape of carbon dioxide and other greenhouse gases, is, we believe, a major technological accomplishment.

"Combined with the opening, next month, of our above ground syngas facility in Pingdingshan, this new project further establishes our company as one of China's leading producers of clean energy products."

Mr. Lv said that SinoCoking would announce additional details on the construction and financing of the underground facility "in the near future."

NEW YORK, September 8, 2014 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) ("Sino-Global" or the "Company"), an international shipping agency and logistic services provider, today announced the closing of its previously announced acquisition of Longhe Ship Management (Hong Kong) Co., Limited ("LSM").

Sino-Global will offer ship management services through LSM, which operates from Hong Kong. LSM's expertise in ship management will prepare the Company to expand its service capabilities up the industry chain.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, said, "With the acquisition of LSM, Sino-Global is poised to serve our customers in the shipping industry even more closely than we currently do with our shipping agent, chartering and inland transportation management services. LSM's expertise will allow us to manage ships directly for our customers. We are excited about the opportunities we anticipate in the ship management industry."

NEW YORK, August 19, 2014 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) ("Sino-Global" or the "Company"), an international shipping agency and logistic services provider, today announced that it has executed an agreement to acquire all of the equity of Longhe Ship Management (Hong Kong) Co., Limited ("LSM"), in a move to broaden Sino-Global's service platform and gain expertise in the ship management business. In connection with the acquisition of LSM, Sino-Global appointed Mr. Africa Li, who has more than 30 years of experience in the shipping industry, as its new Chief Technology Officer.

Sino-Global's agreement to acquire all of the equity of LSM from Mr. Deming Wang will result in the issuance of up to 200,000 shares of Sino-Global's common stock to Mr. Wang as payment for LSM, depending on the net income of LSM from July 4, 2014 through December 31, 2014. The agreement is expected to close in the near future, subject to certain conditions, including the obligation of Sino-Global to notify the NASDAQ Capital Market and, if necessary, request shareholder approval for such issuance prior to completion of the transaction.

Sino-Global has also appointed Mr. Africa Li as its new Chief Technical Officer. Mr. Li served as the assistant to the president (Mr. Deming Wang) of Qingdao Zhenghe Shipping (Group) Co., Ltd. from May 2010 through present. Before that, from August 1982 through April 2010, Mr. Li was a shipbuilding supervision engineer and ship management technical supervisor for Qingdao Marine Shipping Company.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, said, "We are excited to enter into the ship management business and look forward to combining our experience managing shipping logistics and serving as a shipping agent with expertise of LSM in managing ships. Our cooperation with Mr. Wang and his shipping-related companies in recent months has now allowed us to expand into serving commercial ships even more directly. We look forward to Mr. Li joining our team and bringing to Sino-Global a career dedicated to shipping industry for more than thirty years."

Mr. Deming Wang echoed Mr. Cao's thoughts, "I am pleased to continue to strengthen Zhenghe's and my relationship with Sino-Global, particularly as Sino-Global expands its footprint and service capabilities along the value chain of the shipping industry."

NEW YORK, July 8, 2014 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) ("Sino-Global" or the "Company"), an international shipping agency and logistic services provider, today provided an update on its ongoing strategic discussions with Qingdao Zhenghe Shipping (Group) Co. Ltd. ("Zhenghe") and announced that Sino-Global has signed a non-binding acquisition proposal to acquire Zhenghe's ship management company, Longhe Ship Management (Hong Kong) Co., Ltd. ("Longhe Ship Management").

Incorporated in Hong Kong, Longhe Ship Management provides ship and crew management services for a number of dry bulk ships that are built and owned by Zhenghe. The exact terms and conditions of the planned acquisition have not been determined and are subject to further negotiation between the two parties as well as review and approval of Sino-Global's Board of Directors.

NEW YORK, July 3, 2014 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) ("Sino-Global" or the "Company"), an international shipping agency and logistic services provider, today announced the closing of its previously announced underwritten public offering of 572,000 registered shares of its common stock, without par value per share, at a price to the public of $1.76 per share. The underwriter partially exercised the over-allotment and purchased an additional 75,000 shares. The total number of shares sold in the offering including such over-allotment shares was 647,000 shares of common stock.

The Company intends to use the net proceeds of the offering for strategic investments, acquisitions and general corporate purposes.

SINO-GLOBAL SHIPPING AMERICA, LTD.

572,000 Shares of Common Stock

Our shares of common stock are currently traded on the NASDAQ Capital Market under the symbol “SINO.” On June 25, 2014, the closing sale price of our shares of common stock was $2.22 per share.

As of the date of this prospectus supplement, the aggregate market value of our outstanding shares of common stock held by non-affiliates was approximately $4,381,838 based on 5,103,841 outstanding shares of common stock, of which 1,973,801 shares are held by non-affiliates, and a per share price of $2.22, which was the last reported price on the NASDAQ Capital Market of our common stock on June 25, 2014. We have not offered any securities pursuant to General Instruction I.B.6. of Form S-3 during the prior 12 calendar month period that ends on and includes the date of this prospectus supplement.

We have agreed to issue and sell, subject to certain terms and conditions, to National Securities Corporation as underwriter, an aggregate of 572,000 authorized but unissued shares and, at the election of the underwriter, up to 85,800 additional shares of our common stock, without par value per share, at the public offering price of $1.76 per share, less the underwriter discount and estimated offering expenses.

SINO-GLOBAL SHIPPING AMERICA, LTD. 

572,000 Shares of Common Stock

SINO-GLOBAL SHIPPING AMERICA, LTD.

Shares of Common Stock

We have agreed to issue and sell, subject to certain terms and conditions, to National Securities Corporation as underwriter, an aggregate of           authorized but unissued shares and, at the election of the underwriter, up to           additional shares of our common stock, without par value per share, at the public offering price of $          per share, less the underwriter discount and estimated offering expenses.

NEW YORK, June 24, 2014 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) ("Sino-Global" or the "Company"), an international shipping agency and logistic services provider, today announced that the Company has sold 200,000 shares of its common stock to Crystal Spring Holdings Limited, a company owned by Mr. Deming Wang, a citizen of PRC (the "Buyer") at a price per share equal to a 5% discount (the "Offering Price") to the five-day period ended June 12, 2014. Upon issuance of the shares of common stock to the Buyer, the Company will have 5,103,841 common shares issued and outstanding.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, commented, "We are pleased with Mr. Wang's investment in our company. As we disclosed on May 28 of this year, we entered into a strategic cooperation agreement with Mr. Wang's company, Qingdao Zhenghe Shipping Group Limited ('Zhenghe'), one of the largest shipping and transportation companies in China. We believe Mr. Wang's purchase of our common stock is a testament to his interest in continuing to explore cooperation with our company. He has purchased unregistered shares and has expressed no interest in registering those shares for resale. While it is too early to predict the nature of business development opportunities we will ultimately have with Zhenghe, we view Mr. Wang's purchase as consistent with a long-term view of cooperation with our company."

NEW YORK, May 28, 2014 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) ("Sino-Global" or the "Company"), an international shipping agency and logistic services provider, today announced that it has signed a strategic cooperation agreement with Qingdao Zhenghe Shipping Group Limited ("Zhenghe") to jointly explore mutually beneficial business development opportunities. With over RMB 2 billion in total assets and over 6,000 employees, Zhenghe is one of the largest shipping and transportation companies in China. While the precise nature of cooperation will be dictated by successful completion of due diligence, negotiation and analysis of each company's respective strengths and business opportunities, Sino-Global expects that acquisition of assets or interests in one or more of Zhenghe's entities could be possible outcomes.

Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented, "We are extremely excited about this unique opportunity to work with Zhenghe. We believe this strategic agreement lays the foundation for us to combine our strengths and resources for both parties' benefit."

2014 Third Quarter Financial Results

• Total revenues decreased by 10.5% to $2,092,525 for the three months ended March 31, 2014 from $2,339,074 for the same period of 2013.
• Diluted earnings per share was $0.07 vs. last year same quarter loss of $(0.06).

Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented: "Despite a challenging macroeconomic environment that continued to drag on the shipping industry, we are pleased to see our efforts to reorganize and streamline our Shipping Agency business and expand our service platform continuing to pay off. During the third quarter of fiscal 2014, with improved gross margin in our Shipping Agency business and solid contribution from the newly launched Inland Transportation Management Services business, we notched our third consecutive profitable quarter - not an insignificant achievement for Sino-Global, in our view. Looking ahead, we are increasingly optimistic about our future as we continue to streamline our operation and expand our service platform. We look forward to sharing our company's story with investors in New York at the end of the month."

NEW YORK, April 4, 2014 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) ("Sino-Global" or the "Company"), an international shipping agency and logistic services provider, today announced that it has signed a strategic cooperation agreement (the "Agreement") with state-owned enterprise, China Ocean Shipping Agency ("PENAVICO") to jointly develop their shipping agency business both in China and overseas through a cross-referral and collaboration arrangement.

Under the terms of the Agreement, Sino-Global and PENAVICO will leverage each other's strengths at different ports to explore cross-referral and profit sharing opportunities among existing clients. The Agreement has a one-year term and will automatically renew for another year unless a written notice of termination is given by either party at least 30 days before the end of the term.

"We are thrilled to work with PENAVICO, an industry leader with over 60 years of rich history of providing international shipping agency, freight forwarding and logistics services to customers all over the world," commented Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global. "We believe both parties will benefit from the cross-selling and upselling opportunities that this Agreement is expected to generate."

CALCULATION OF REGISTRATION FEE

SINO-GLOBAL SHIPPING AMERICA, LTD.

Approximate date of commencement of proposed sale to the public: From time to time after the effective date of this registration statement as determined by the registrant.

CALCULATION OF REGISTRATION FEE

NEW YORK, January 6, 2014 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) ("Sino-Global" or the "Company"), an international shipping agency and logistic services provider, today announced that it has signed a three-year strategic partnership agreement (the "Agreement") with the Dalian subsidiary of a Chinese state-owned enterprise, China United Tally Co., Ltd. ("China Tally Dalian") to jointly develop third-party verification services at key ports across China. Under the terms of the Agreement, China Tally Dalian will be Sino-Global's exclusive partner in the development and deployment of third-party verification services for the Company's customers at key ports across China.

Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented, "As we continue to leverage our core shipping agency business and explore new business opportunities along the entire logistics value chain, we are pleased to partner with China Tally Dalian to develop and deploy third-party verification services at key ports across China. Coupled with our recent engagement with Lianyunguang Port Logistics Holding Co., Ltd., this strategic partnership with China Tally Dalian will further expand the scope of our logistics service business."

NEW YORK, Dec. 19, 2013 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) ("Sino-Global" or the "Company"), an international shipping agency and logistic services provider, today announced that it has signed a one-year strategic agreement (the "Agreement") with Jiangsu Lianyungang Port Logistics Holding Co., Ltd. ("Lianyungang Port Logistics"), to jointly develop and promote each other's shipping agency and logistic service businesses both in China and overseas.  Under the terms of the Agreement, each party will promote the other party's services to its existing customers and will share profits generated from such cross-referral activities on a contract-by-contract basis.

"Our strategic partnership with Lianyungang Port Logistics will further enhance our logistic services platform in China, strengthen our ability to drive sustainable revenues from the logistic business, help us diversify our revenue streams and identify other viable long-term growth opportunities beyond our core shipping agency business. This Agreement is part of our overall program to broaden the breadth and depth of our logistic services in China, and helps lay the foundation for other profit-sharing opportunities." said Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global. "As we exit December with significantly improved financial condition, restructured management and organizational structure, and new partnerships with leading enterprises like Zhiyuan and Lianyungang Port Logistics, we believe better days lie ahead of us." 

BEIJING, Nov. 1, 2013 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (Nasdaq: SINO), an international provider of shipping agency services, today announced, Cao Lei, CEO of Sino-Global Shipping America, Ltd. issued a letter to shareholders.

To the Shareholders of Sino-Global Shipping America, Ltd.:

This year promises to be a year of change for Sino-Global, and I am happy to write on behalf of management to explain our current status, as well as our hopes and plans for the future. We have weathered a challenging several years and expect turbulence for a few more quarters; however, we are ultimately optimistic about our longer-term prospects.

First, our long time Chief Financial Officer Mr. Zhang Mingwei, has recently retired from our company, and we have appointed Mr.Anthony S. Chan as our acting Chief Financial Officer to help guide the company in the future. We are grateful for Mingwei's guidance over the years. We are equally excited to have Anthony, a seasoned CPA with over 20 years of experience with auditing, SEC reporting, mergers and acquisitions and cross-border transactions, fraud risk management and internal controls compliance. In addition, Anthony is fluent in English, Mandarin and Cantonese, all of which are crucial to our international operations.

Before getting into our future plans, I would like to discuss a little bit of our results for 2013 that may be less clear simply by reading the financial statements of the company. There are certainly good and bad points to 2013. First, the bad news:

• Our revenues decreased year over year. As we mentioned in our annual report, revenues decreased by 48.85% to $17.3 million in 2013.
• The most significant driver of this decrease was our evolving relationship with Beijing Shourong Forwarding Service Co., Ltd., an affiliate of Capital Steel in Beijing. Shourong has historically been our single largest customer. We have not provided agency services to Shourong since July 1, 2013, and we have no present plans to do so.
• We provided services to fewer ships in 2013 than in 2012, and we saw a shift in the sort of services we provided from higher revenue per-ship loading and discharging services to lower revenue per-ship protective services.
• We continued to have net losses in 2013. Although our losses were lower than they were in 2012, the continued losses have reduced our cash and cash equivalents from $4.4 million at the end of 2012 to $3.0 million at the end of 2013, even taking into consideration the investment of $3 million that occurred on April 19, 2013.

Not all of the news from 2013 is bad. Indeed, we succeeded in a few ways in 2013 that we believe will benefit our company in the future:

• While our revenues shifted to lower revenue per-ship protective services, these services feature higher margins than our loading and discharging services. While the per-ship revenues are lower, we expect the revenues we do receive to be more profitable to our company.
• We reduced our overhead significantly by 25.9%, or $1.4 million, in 2013. We accomplished this by reducing office rent, business promotion and travel expenses, public listing-related expenses, and salaries. These efforts have made our company a more streamlined company and resulted in a higher gross margin. We expect this change will benefit our company moving forward, particularly as we increase our revenues while controlling these expenses.
• We received a strategic investment from an investor, Zhang Zhong, who saw an opportunity not only in purchasing our common stock but also in directing his related business, Tianjing Zhiyuan Investment Group Ltd ("Zhiyuan"), to our company for shipping agency services. As a result, we believe our company benefitted twice: first by issuing shares for cash at a very modest 5% discount and second by being well-positioned to provide shipping agency and logistic services to Zhiyuan.

With those highlights from 2013 in mind, I want to talk a bit about what we see in Sino-Global's future. Since our initial public offering, we have focused on conservative operating strategies, recognizing that exchange rates were becoming less favorable to companies like ours that receive US dollars and pay Renminbi and that shifting development policies in China were changing the landscape of our industry. This strategy allowed us to conserve our resources and continue to operate our business in the face of net losses for the last five years.

This year, however, we believe conditions are ripe to update our operational strategy to focus on strategic growth. In particular, we believe we have built an attractive operating platform, and we see opportunities to cooperate with compatible agents internationally to grow our network. In addition, we have received an important investment from a shareholder who has already begun to direct business to our company.

First, we are growing our agency network by partnering with experienced and reputable shipping agents located around the world. By extending the breadth and depth of our network, we expect to benefit from greater revenues associated with referrals of business within our network. We have built a strong local agent platform that we will be rolling out over this year. Our goal will be to appoint select regional agents to serve in our network. We expect that these new network members will drive revenues and net income to our company, both initially and on an ongoing basis.

In addition to growing our network, we are also deepening our ties with Zhang Zhong. As we mentioned when we asked shareholders to approve the issuance of 1.8 million shares of common stock to Zhang Zhong, the purchase price for the restricted shares was only a 5% discount to the 10-day trading average for our stock on the day we signed the purchase agreement, and it was paid in cash. In addition, however, Zhang Zhong agreed to direct Zhiyuan to use Sino-Global for its shipping needs. This agreement to direct business to us � above and beyond the cash value of the stock � will result in additional revenues to our company. Indeed, I want to share a bit of good news with you. The first Zhiyuan ship has already arrived in China, and from this one shipment, we recognized revenues of approximately $1.8 million, with net profit of approximately $0.6 million. Please note that these figures are preliminary and represent just this shipment and not the quarter as a whole. While we cannot predict what the future of this relationship will bring to our company, we believe it has already begun to show promise.

In connection with these new initiatives, we have been evaluating the compensation structures for management and the directors of the company. Our Compensation Committee and Board of Directors have recently approved an adjustment to our compensation structure to more clearly tie our operating results to management compensation. In particular, while the new compensation structure retains a cash component, we have included an equity-based compensation component that is tied to the profitability of our company. To the extent our company has net profit, our management would receive an incentive-based bonus paid in common stock. While we have had net losses for the last five straight years, our management is bullish on the future and pleased to link their compensation directly to the company's bottom-line success.

In summary, we are excited about the future of Sino-Global. This should not distract from the fact that we have a lot of work to do to achieve these goals and that the next few quarters will continue to be challenging. We thank you for your faith in our vision in the past, and we look forward to your continued support.

Best regards,
/s/ Cao Lei
Mr. Cao Lei
Chief Executive Officer

Fourth Quarter Fiscal 2013 Results

• The company reported Revenue of $680,856, compared to $8.1 million for the same quarter of fiscal 2012.
• The company reported a loss per share of $0.16, compared to a loss per share of $0.08 for the same quarter of fiscal 2012.

While China's economic slowdown reduced the volume of iron ore imported into China and, consequently, hurt the company's results in fiscal 2013, the company was able to streamline operations to improve gross margin, reduce overhead and reduce net operating losses. Mr. Michael Huang, Chief Operating Officer, noted, "As a result of the challenges we faced in 2013, we devoted significant efforts to controlling our costs. If we can grow our revenues with comparatively lower overhead and better gross margins, we expect favorable results in 2014 and beyond."

The number of ships served decreased to 438 in fiscal 2013 from 477 in fiscal 2012, and the number of ships for which we provide higher per-ship revenue loading and discharging services decreased by 55.65%. As a result, revenues decreased significantly; however, the number of ships for which we provided protective services increased by 142.98%. These protective services, while lower revenue per ship, feature a higher gross profit margin for our company.

In connection with the shift of revenue mix, Sino-Global undertook an intensive cost cutting program, which decreased expenses by $1.4 million during fiscal 2013. Mr. Cao Lei, Sino-Global's Chief Executive Officer, stated, "As challenging as 2013 was for our company, we have made significant changes towards the end of the year that are positive catalysts going into the new fiscal year. As a result of these efforts, we are a leaner company than this time last year, and we are able to focus on higher margin services, such as our protective services and our efforts in the chartering and logistics business. We believe that these efforts will pay off long term for investors, as we drive revenues with lower expenses."

Mr. Cao continued, "Looking forward, we want to increase our market share in the Chinese shipping agency market and to expand our business to related service areas through diversification. We believe we can meet these goals by continuing to focus on the high quality of our personnel, the positive relationships we enjoy with local ports, businesses and agencies and the breadth of services we offer to clients. In addition, we expect further cost cutting to occur as we reduce overhead expenses and streamline operations. With this in hand, I am looking forward to sharing improved economics within our business."

BEIJING, Aug. 8, 2013 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (Nasdaq: SINO), a leading, non-state-owned provider of shipping agency services operating primarily in China, today announced the planned retirement of its long-term Chief Financial Officer, Mr. Zhang Mingwei. Mr. Zhang's retirement is expected after the Company files its upcoming annual report.

Mr. Cao Lei, Sino-Global's Chief Executive Officer, stated, "We are extremely appreciative of the years of dedication and service Mingwei has given to Sino-Global. He was instrumental in many aspects of our Company even dating back to our days before we were publicly held. On behalf of the board of directors, shareholders and employees, we thank Mingwei for his guidance and support and appreciate his counsel. We wish him well and expect a smooth transition due to Mingwei's willingness to serve our Company through the filing of the upcoming annual report. This advanced planning will allow us to complete a thorough search for a qualified CFO to replace Mingwei. We plan to confine our search to CPAs who have at least 15 years of experience with US GAAP as an auditor or CFO for publicly traded companies. Given our international focus and our future expansion plans, our new CFO will need to be very familiar with mergers and acquisitions and cross-border transactions. Experience with financial due diligence will also be important to ensure that any acquisitions are well reviewed prior to completion. We have already begun interviewing candidates and hope to advise shareholders of a hiring decision in the near future."

BEIJING, July 1, 2013 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (Nasdaq: SINO), a leading, non-state-owned provider of shipping agency services operating primarily in China, today announced that it signed a 5-year global logistic service agreement onJune 27, 2013 with TEWOO Chemical & Light Industry Zhiyuan Trade Co., Ltd and TianJin Zhi Yuan Investment Group Co., Ltd (together "Zhiyuan").

Under the terms of the agreement, Sino-Global will serve as Zhiyuan's exclusive global logistics service provider in charge of cargo import and export issues. Sino-Global will provide door-to-door chartering, agency and logistics services for Zhiyuan, taking care of everything from assistance with sales contracts, logistics planning, local agent and surveyor appointments, customs compliance, and arrangement of warehousing and land transportation for shipments. Zhiyuan will prepay 40% of total freight prior to a shipment. The agreement, which was unanimously approved by Sino-Global's Board of Directors, will last for 5 years, at which point Sino-Global has the right to renew for successive one-year terms.

Mr. Cao Lei, Sino-Global's Chief Executive Officer, stated, "When we asked our shareholders to approve the issuance of shares of common stock to Mr. Zhang Zhong, we were excited not only about the cash sale of our common stock to an investor eager to share in our company's future, but also about the long-term opportunity to serve the shipping needs of Mr. Zhang's companies. We believe this exclusive arrangement offers an important new revenue stream to our company and offers economic upside to both Zhiyuan and our company."

Third Quarter 2013 Financial Results

• Total revenues decreased 74.32% to US$2.34 million, from US$9.11 million in the third fiscal quarter ended March 31, 2013.  
• Net loss improved to US$211,040 from net loss of US$770,155 in the third fiscal quarter of 2012.
• Basic and diluted losses per share were US$0.06 and US$0.16 for the third fiscal quarters of 2013 and 2012, respectively. Earnings and losses per share are adjusted for the non-controlling interest.

Mr. Cao Lei, Sino-Global's Chief Executive Officer, stated, "The difficult economic environment continued into the third quarter, stemming from the reduced volume of iron ore imports. As a result, we saw a reduction in the number of ships we service. In addition, one of our major customers, Beijing Shourong Forwarding Company ("Shourong"), has changed its service arrangement with us, to protective agency services versus the lump sum fixed rate discharging agency services. As a result of this change, our revenue base declined significantly. While this is extremely disappointing, we have managed to streamline our business in light of this change by cutting expenses, which limited our losses in the quarter. On a positive note, our gross margin improved to nearly 15% in the quarter as we provided protective agency services to more ships, which carries a higher gross margin compared to the loading and discharging services."

Mr. Cao added, "Subsequent to the third quarter's end, we managed to improve the Company's balance sheet as shareholders approved the issuance of 1.8 million shares for $3.078 million, or $1.71 a share, to Mr. Zhang Zhong, who owns 90% of Tianjin Zhiyuan Investment Group. We are pleased to have Mr. Zhong as a shareholder and hope this transaction will provide us not only with the necessary capital to manage the business going forward, but also provide Sino Global with new opportunities in a wider service range including shipping agency, ship management, ship operating and forwarding."

Mr. Cao concluded, "Looking to the future, we will continue to emphasize expanding our international marketing effort to position us for strong growth as economies around the world improve. We also believe that our business relationship with Shourong will continue this year and we are working diligently in obtaining a favorable service arrangement with them. Our position has been strengthened by the actions that we have taken and Sino-Global will continue to seek additional international business from loading ports in Australia, Canada, South Africa and Brazil as well as other countries with which China has major trading activities."

BEIJING, December 20, 2012 /PRNewswire/ --Sino-Global Shipping America, Ltd. (Nasdaq: SINO), a leading non-state-owned provider of shipping agency services operating primarily in China, today announced that it has established a new wholly-owned subsidiary, Sino-Global Shipping Canada Inc., to provide services for ships loading commodities at Canadian ports and delivering them to China.

Sino-Global Shipping Canada is already providing shipping services to Baosteel's vessels in Canada. Baosteel, based in Shanghai, China, is the second largest steel producer in the world with huge demands for iron ore and other commodities.

Mr. Cao Lei, Sino-Global's Chief Executive Officer, stated, "As we have noted in the past, Sino- Global Shipping America Ltd. has always sought to expand its geographical reach by developing relationships and activities worldwide. The new wholly-owned Canadian subsidiary is another step in establishing Sino-Global as the pre-eminent provider of shipping services worldwide. Canada is a country rich in natural resources and is a major shipper of such commodities throughout the world. We anticipate that Sino-Global Shipping Canada will open up additional Canadian business opportunities that will result in incremental revenues and earnings.

Highlights for the Fiscal Year Ended June 30, 2012

• Revenues increased 2.87% to US$33.9 million, from US$32.9 million in the fiscal year ended June 30, 2011.
• Gross margin decreased to 7.96% in the current fiscal year compared to 10.07% in the prior fiscal year.
• General and administrative expenses as a percentage of total revenues increased to 15.45% from 13.80% in fiscal 2011.
• Net loss was US$2.81 million compared to net loss of US$1.25 million in fiscal 2011.
• Basic and diluted losses per share were US$0.61 and US$0.30 for fiscal 2012 and fiscal 2011, respectively. Earnings and losses per share are adjusted for the non-controlling interest.

Fiscal 2012 was a difficult year for the Company as the economic slowdown in China had a significant impact on the volume of iron ore imported into China and, consequently, on the Company's results. By aggressive marketing activities that resulted in new customers that load iron ore in overseas ports, Sino-Global was able to manage a small increase in revenues. The number of ships served increased from 421 in fiscal 2011 to 477 in fiscal 2012. However, since the increased number of ships served primarily used the Company's lower agency fees per ship protective services, the contribution to overall revenues was insufficient to overcome the decline in iron ore imports.

To offset the decline in iron ore imports and higher costs being paid to Chinese local ports, Sino-Global undertook an intensive marketing effort to attract new clients and maintain and increase revenue growth, with some success, but general and administrative expenses and selling expenses increased as a result of such efforts.

Mr. Cao Lei, Sino-Global's Chief Executive Officer, stated, "Because growth in China has slowed and may be unsteady in the future, Sino-Global is pursuing multiple strategies to promote future growth. The key elements of these strategies include: (1) increasing our market share in China by taking advantage of our size and reputation for superior service, (2) leveraging the high level of satisfaction of our current customers to recommend our services to potential customers that wish to ship to China, (3) continuing to expand our shipping agency network both in China and internationally as we have done over the past several years to reduce our dependence on a single country's economy and, (4) remaining responsive to our customers' needs and suggestions and continuing to develop strong working relationships with third parties in port cities."

Mr. Mingwei Zhang, Chief Financial Officer further noted, "We have positioned the Company for future growth and we believe we are prepared to face difficulties if the economic recession continues and operating environment for shipping industries worsens. The Company is reviewing its business model to assess any opportunity for reducing operating expenses and improving productivity. We believe our efforts in growing revenues and controlling expenses will position the Company for success in the long run.

Financial results for third fiscal quarter ended March 31, 2012.

• Total revenues increased by 0.49% from $9,065,518 for the three months ended March 31, 2011 to $9,110,006 in the comparable three months in 2012.
• Expenses increased by 9.49% from$1,049,933 for the three months ended March 31, 2011 to $1,149,522 for the three months ended March 31
• Net Loss- As a result of the foregoing, we had a net loss of $770,155 for the quarter ended March 31, 2012, compared to net loss of $254,387 for the quarter ended March 31, 2011.

Mr. Cao Lei, Sino-Global's Chief Executive Officer, stated, "We continued to face a difficult economic environment in the most recent quarter but have been able to increase the number of ships that we are servicing slightly. However, the number of ships discharging iron ore in Chinese ports has not increased, and we have mitigated that stagnancy by increasing our protective services to a greater number of ships, albeit at significantly lower agency revenues per ship. We will continue to monitor our expenses closely but invest prudently in areas that should lead to future revenue and business growth."

Mr. Cao concluded, "In looking to the future, we continued to emphasize expanding our international marketing effort to position us for strong growth as economies around the world improve. Our position has been strengthened by the actions that we have taken and Sino-Global will continue to seek additional international business from loading ports in Australia, Canada,South Africa and Brazil as well as new international venues."

Second Quarter 2012 Results

• Total revenues decreased by 11.51% from $9,066,226 for the three months ended December 31, 2010 to $8,022,598 in the comparable three months in 2011.
• Net loss was $827,385 for the quarter ended December 31, 2011, compared to net loss of $263,598 for the quarter ended December 31, 2010.
• Basic and diluted losses per share were US$0.14 and US$0.04 for the second fiscal quarter of 2012 and 2011, respectively. Basic and diluted losses per share for the six months ended December 31, 2011 and 2010 were US$0.37 and US$0.09, respectively. Losses per share are adjusted for the non-controlling interest.

Mr. Cao Lei, Sino-Global's Chief Executive Officer, stated, "Facing a continued reduction in the number of ships discharging iron ore from Chinese ports, we conducted intensive marketing activities to increase our services to new customers. As a result, the number of ships we served increased from 216 to 222 and 113 to 116 for the six and three months ended December 31, 2010 and 2011, respectively. However, the increased number of ships served primarily used our services that generate lower agency fees per ship. Although the number of ships we served increased, our revenues decreased. While this has been a challenging quarter for our company, we have increased marketing and promotional spending to help Sino-Global seek out additional opportunities to increase revenue in both China and globally."

Mr. Cao, added, "In an uncertain economic environment, we believe that growth is a key component for us to survive and develop. As a result, we will continue our combined effort to control our budget and promote business growth. As such, top line growth will remain our first priority, and we will focus on increasing revenues from our agency services to vessels coming to Chinese ports and expanding business activities at loading ports in Australia, Canada, South Africa and Brazil."

Financial Release from November 14, 2011

Financial Highlights for the First Fiscal Quarter Ended September 30, 2011

• Total revenues increased 4.8% to US$8.59 million, from US$8.2 million in the first fiscal quarter ended September 30, 2010.
• The devaluation of the US dollar against the Chinese Renminbi ("RMB") resulted in a minor change in gross margin from 9.81% in the first fiscal quarter of 2011 to 9.76% in the current fiscal quarter.
• General and administrative expenses as a percentage of total revenues increased to 16.1% from 12.5% as a result of costs in implementing international expansion.
• Net loss was US$625,357 compared to net loss of US$157,920 in the first fiscal quarter of 2010.
• Basic and diluted losses per share were US$0.23 and US$0.05 for the first fiscal quarter of 2012 and 2011, respectively. Earnings and losses per share are adjusted for the non-controlling interest.

Revenue growth in the first fiscal quarter of 2012 ended September 30, 2011 slowed appreciably as a result of the China government financing policies that resulted in lower imports of iron ore into China.

Sino-Global continues to focus on expanding its global activities and on July 5, 2011 announced a Strategic Cooperative Agreement with COSCO Container Shipping Agency Co. Limited, one of the largest state-owned shipping agents in China, that permits Sino-Global to use COSCO's name to market for business in China and overseas.

Mr. Cao Lei, Sino-Global's Chief Executive Officer, stated, "We continue to look for opportunities to increase revenue in both China and globally and announced, shortly after the close of the first fiscal quarter, on October 12, 2011, the signing of a Memorandum of Understanding with King & Sons Shipping Agency, a subsidiary of Grindrod Limited, a public company listed on the JSE Securities Exchange (JSE:GNDP), one of the oldest shipping agent organization in South Africa, that will allow Sino-Global to provide general shipping agency services to all ports in South Africa."

Mr. Cao, continued, "We expect to sign additional reciprocal shipping agency agreements in the near future that will result in additional ships and loading ports that use Sino-Global's services and believe that these efforts will result in significant incremental revenues and improved gross margins. Our outstanding reputation for quality shipping agency services and agreements that we have negotiated already will open doors into new geographic regions and bring new customers."

In conclusion, Mr. Cao, stated, "Fiscal 2012 began with a very moderate increase in revenues, but we anticipate that the pace of growth will accelerate over the course of the fiscal year as we maintain and add to our current customer base and benefit from the development of new markets in China and overseas reciprocal agreements."

Fiscal 2011 Financial Results

Founded in 1998, COSCO Container Shipping Agency is a fully owned subsidiary of COSCO Container Lines Co., Ltd. (COSCON) and has more than 50 offices in coastal cities throughout China including Guangzhou, Dalian, Shanghai, Qingdao, Tianjin, Shenzhen, Xiamen and Ningbo.

"By signing the Agreement, we intend to expand our local agency services through the highly-regarded network of COSCO Container Shipping Agency," said Mr. Cao Lei, Sino-Global's Chief Executive Officer. "This relationship with COSCO Container Shipping Agency will not only fulfill our IPO commitment on expanding our footprint throughout China, but also enhance our marketing effort in generating incremental revenues for both companies."

Mr. Liu Gang, Managing Director of COSCO Container Shipping Agency, commented, "The Agreement will integrate resources from both parties and develop our shipping agency business in a cost effective way. We are proud to be associated with Sino-Global and look forward to a long and mutually profitable business relationship."

We have financed our operations primarily through cash flows from operations and cash derived from our initial public offering.

We believe that current cash, cash equivalents, and anticipated cash flow from operations will be sufficient to meet our anticipated cash needs, including cash needs for working capital and capital expenditures for at least the next 12 months. We may, however, require additional cash due to changing business conditions or other future developments, including any investments or acquisitions we may decide to pursue.

Highlights for the Nine Months and Third Quarter of Fiscal 2011

• Revenues for the nine months ended March 31, 2011 increased 39.3% to US$26.3 million, from US$18.9 million in the nine months ended March 31, 2010.
• Revenues for the third quarter ended March 31, 2011 rose 50.6% to US$9.1 million from US$6.0 million in the third quarter ended March 31, 2010.
• Gross margin decreased to 9.8% in the current third quarter compared to 13.6% in the third quarter of 2010.
• General and administrative expenses as a percentage of total revenues decreased to 11.6% from 16.6% in the third quarter of 2010.
• Net loss for the nine months ended March 31, 2011 was US$720 thousand compared to net loss of US$673 thousand in the first nine months of fiscal 2010.
• Net loss for the quarter ended March 31, 2011 was US$254 thousand compared to a net loss of US$268 thousand for the same period in fiscal 2010.
• Basic and diluted losses per share were US$0.05 and US$0.14 for the quarter and nine months of fiscal 2011, respectively, compared to basic and diluted loss per share of US$0.01 and earnings per share of US$0.01, respectively for the quarter and nine months of fiscal 2010. Earnings and losses per share are adjusted for the non-controlling interest.

2011 trends 

In addition to our current focus on agency services to vessels coming to Chinese ports, we have expanded our business to providing agency services to vessels loading commodities at the ports overseas. With the strong demand for imported iron ore and coal from major customers like, Capital Steel, Baosteel and other Chinese steel manufacturers, we continued our top-line growth for the nine and three months ended March 31, 2011 and expect the trend will continue through the remainder of the 2011 fiscal year and into the next fiscal year.

contrast to the increase in our revenues, we only managed to have a marginal increase of our gross profits in the absolute amount, and our gross margin decreased continuously. Because we receive most of our revenues in U.S. dollars and pay most of our expenses in Chinese Renminbi (“RMB”), we have faced increased costs of revenues due to the devaluation of U.S. dollars against RMB over the last several years. From June 17, 2010, the RMB started its second round of re-valuation, and we anticipate that the U.S. dollar will devalue about 5% to 7% against the RMB in 2011. As a result, we expect that our gross margin will stay depressed. We have successfully negotiated with our largest customer, Beijing Shourong Forwarding Limited for an increase in agency fee of approximately 5% beginning in March 2011. We believe this change will improve our overall gross margin by about 3% and partially mitigate the negative impact from the U.S. dollar devaluation on our gross margin. Our general and administrative expenses are significantly higher than their pre-IPO levels as a result of our business expansion and our company’s public listing. In the remainder of the 2011 fiscal year, we will continue our combined efforts in budget controls and business promotion. For the nine months ended March 31, 2011, we have continued to reduce our general and administrative expenses as a percentage of total revenues.

2011 trends

We continued our top-line growth for the three months ended September 30, 2010 and expect the trend will continue through the 2011 fiscal year. In contrast to the increase in our revenues, we only managed to have a marginal increase of our gross profits in the absolute amount, and our gross margin decreased continuously. Because we receive most of our revenues in U.S. dollars and pay most of our expenses in Chinese Renminbi (“RMB”), we have faced increased costs of revenues due to the devaluation of U.S. dollars against RMB over the last several years. From June 17, 2010, Chinese RMB started its second round of re-valuation, and we anticipate that the U.S. dollar will devalue about 2% to 5% against the RMB in 2011. As a result, we expect that our gross margin will stay depressed unless we are able to successfully renegotiate service prices with our major customers, and there is no guarantee that we will be able to do so. Our general and administrative expenses are significantly higher than their pre-IPO levels as a result of our business expansion and our company’s public listing. We reduced these amounts for the year ended June 30, 2010 compared to the same period in 2009. In the 2011 fiscal year, we will continue our combined effort in budget controls and business promotion. In the first quarter of 2011, we have continued to reduce these amounts.

Annual Commentary

The Company receives most of its revenues in U.S. dollars and pays most of its expenses in RMB. As a result, it faced increased costs of revenues due to the devaluation of the U.S. dollar against the RMB over the last several years. Although this devaluation had slowed in fiscal 2010, it is expected that the U.S. dollar will devalue by about 2% to 5% against the RMB in 2011. As a result, the gross margin may stay depressed.

While general and administrative expenses were significantly higher than their pre-IPO levels as a result of the Company's business expansion and public listing, the Company has reduced these amounts in fiscal 2010 compared to fiscal 2009. During fiscal 2011, the Company will continue its combined efforts in business promotion and budget controls.

Due to the vast uncertainties in the world economy and the shipping industry, Sino-Global is unable to provide growth or earnings guidance for 2011 at this time. The Company plans continue to focus on business promotion to increase revenues and budget controls to reduce expenses.
 

"Due to the global economic slowdown:

-- The amount of goods imported into China has decreased significantly, resulting in fewer ships from existing clients served.

-- While the Company has focused significant effort on the promotion of its shipping services business to current and new clients and has achieved positive revenue growth in the first three quarters of fiscal year 2009, the effects of the financial crisis have overshadowed these positive achievements.

Subsequently, the Company is revising previous annual growth expectation downward, which may result in net losses for full fiscal year 2009."

Unlike its previous financial guidance the company did not provide specific revenue guidance.

The Company additionally noted that as a result of cost-cutting measures announced March 30, 2009, it expects to break even in the fourth fiscal quarter of 2009, resulting in a full-year net loss from continuing operations before non-controlling interest of approximately $2.0 million and a net loss of approximately $1.5 million.

Source: See Release , May 18, 2009

The above forecasts reflect the Company's current and preliminary views and are therefore subject to change. Please refer to the Company's Safe Harbor Statement (usually in press releases) for the factors that could cause actual results to differ materially from those contained in any forward-looking statement.

Guidance Report:

Sino-Global maintains its full-year 2009 guidance. "This forecast is a current and preliminary view and is subject to change."

Full Year Fiscal 2009 Guidance Ending June

GeoTeam Comment:  Despite the impressive revenue forecast the company  still lost money for the first six months of their fiscal year. formulating potential valuation scenarios will be difficult Without ninsight into future profitability.

Source: PR Newswire (February 13, 2009)